Hormuz talks progress, US officials aiming for imminent announcement on new Iran deal

Negotiations between the US, Oman and Iran on a new agreement over control of the Strait of Hormuz and future talks have seen progress, with a possible announcement expected on Wednesday.

US and regional officials speaking with Axios said that the US is aiming to announce a new agreement that would outline new discussions on Iran's nuclear programme.

It would also include a ceasefire in the ongoing confrontation between the US and Iran, which has seen several rounds of mutual strikes across the region.

Two regional sources told the outlet that a temporary 60-day agreement between Oman and Iran is on the table, which would see inbound traffic into the Gulf pass through Iranian waters and outbound traffic pass through Omani waters.

There has been much speculation on the issuing of tolls in the Strait after Iran announced early in the war an office for the collection of fees for ships transiting the waterway. According to the agreement, no fees would be charged during the 60-day period.

The 60-day period would also see the clearing of mines from the median lane that was the main passage for traffic prior to the war. After the clearing and a permanent ceasefire, the lane will be reopened.

Alongside the direct negotiations between Oman and Iran, officials from Pakistan, Saudi Arabia and Qatar have also been involved in mediation efforts, with Trump envoy Steve Witkoff, Iranian Foreign Minister Abbas Araghchi and Omani Foreign Minister Badr al-Busaidi exchanging calls.

Despite the negotiations and reported progress, reports in Iranian media offer an important caveat to the progress, with Iranian state broadcaster IRIB quoting an official as denying US involvement, saying they "have nothing to do with the United States".

The report added that if "US violations" continue, the strait will remain closed despite the agreement, and that any agreement between Iran and Oman may not lead to an immediate opening of the Strait.

Since the first memorandum of understanding was signed by the US and Iran in June, there have been several rounds of escalatory clashes that have seen extensive US strikes across southern Iran, and Iranian retaliation that has targeted Bahrain, Kuwait, Saudi Arabia, and Jordan.

Israel, which has not joined the latest rounds of attacks, was reportedly preparing to join a large-scale strike package against Iranian energy sites on Friday, which was cancelled following regional pressure.

The planned attack threatened to restart full-scale war between Tehran and Tel Aviv, a move that would put energy facilities in the region in jeopardy, and see Iran strike Israel again.

The war has threatened to expand since the MoU was signed, with Yemen's Houthis launching their own blockade of Saudi Arabia, attacking Saudi-linked shipping and tightening the country's ability to export oil into the global market.

Drones also struck two gas vessels in the Egyptian port of Damietta, a first for Egypt since the war's outbreak, though no group took responsibility for the attack.