August 27, 2026

While Iran and Oman have floated proposals for a temporary transit corridor and joint mine-clearing operations for the Strait of Hormuz, Tehran warned on Wednesday that the critical waterway would stay shut unless the United States brings an end to the nearly six-month-old conflict.

Iran's Islamic Revolutionary Guard Corps said that agreements were reached on the share of the Strait of Hormuz's waters allocated to Iran and Oman, as well as their respective shares of revenues generated by the waterway, during talks between the two countries, Tasnim news agency reported on Wednesday.

The development came as Washington has rolled out what it calls the "toughest economic sanctions" designed to further isolate Iran, with US Treasury Secretary Scott Bessent threatening the country with "economic asphyxiation".

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