Proposed Strait Of Hormuz Deal Could Give Iran Control Over Gulf-Bound Ships, Say Sources

New Delhi, August 5, 2026: A proposed agreement between Iran and Oman could give Tehran control over ships entering the Gulf through the Strait of Hormuz, a senior Iranian source and two regional officials told Reuters on Wednesday, potentially marking one of the biggest concessions to Iran.

However, despite apparent movement towards meeting some Iranian demands, the sources rejected suggestions by US President Donald Trump that an agreement to reopen the strait was imminent, saying significant details remained unresolved.

"The concession has already been made regarding some form of control over Hormuz," one regional source told Reuters.

Another regional source said negotiators had yet to determine how "control" would be defined. Gulf negotiators are pushing for regional countries to supervise ship inspections and for any fees to be voluntary.

According to the senior Iranian source, the proposed agreement already envisages Iran controlling ships entering the Gulf through the strait. One major sticking point is the extent of Tehran's role over vessels travelling in the opposite direction.

There was no immediate response from Washington to the disclosures.

US Opposes Iranian Control

US officials have repeatedly maintained that Washington would not accept an arrangement allowing Iran to control access to the world's most important trade route for energy supplies. Trump and senior administration officials, however, have said in recent days that an agreement could soon end the war launched by the US in February, which polls show most US voters oppose.

Trump told Fox News that negotiations were "moving along nicely" and "an all-day negotiation" had taken place on Tuesday.

"The Strait of Hormuz is going to be open very soon," Trump said. "If they back out again, they are going to get hit really hard."

Over the weekend, Trump cited the negotiations while calling off plans for "massive attacks" on Iran.

Iran, meanwhile, has been negotiating with Oman, which controls the opposite shore of the strait, as Tehran and Washington are not holding direct talks. Iran rejected an earlier Omani proposal last week, saying it provided Tehran with insufficient influence.

The senior Iranian source played down expectations of an imminent agreement and noted that Iranian Foreign Minister Abbas Araqchi was on holiday.

"Talks are continuing, but it is too early to say that a deal with Oman has been finalised," the source said.

Another Iranian source cautioned: "The devil is in the details. A single tweet from Trump could cause the whole thing to collapse."

Transit Fees Under Discussion

An agreement granting Iran any control over access to the Strait of Hormuz would represent a major shift in the regional balance of power in Tehran's favour following the war launched by the US and Israel. Before the conflict, vessels could transit the strait freely without paying fees.

Trump had initially said "Operation Epic Fury" would end with Iran's "unconditional surrender" and with him approving the choice of its leader. He has since faced pressure to find a way out of a conflict that US voters now oppose two-to-one.

According to the senior Iranian source, Tehran is seeking fees equivalent to between 5 per cent and 7 per cent of the value of cargoes carried by ships using the strait. Oman is discussing lower fees of around 3 per cent, while Washington opposes any fees.

Making payments voluntary, at least nominally, could offer a potential compromise. However, the implied risk of Iranian attacks could leave shipping companies reluctant to pass through without paying.

Months of US military operations, including a two-week campaign of strikes in July, have failed to break Iran's grip on the strait. US commanders advised Trump in July that supplies of some munitions were running low. Reuters reported on Tuesday that the US Army had used nearly all of its long-range precision missiles.

Shipping Attacks Continue

Oil prices edged higher on Wednesday after the Iran-aligned Houthi movement in Yemen said it had fired on a Saudi-flagged tanker in the Red Sea, the latest attack on Middle East shipping routes that has disrupted global energy supplies.

Global crude prices, however, remained close to their lowest levels since early July after falling sharply over the previous two days. The decline followed Trump's decision to call off fresh attacks on Iran, citing negotiations that he said could end the conflict.

US military escalations have periodically been met by stronger responses from Iran and its proxies, including the Houthis, who control much of Yemen and operate around another major regional shipping chokepoint at the mouth of the Red Sea.

The Houthis said on Wednesday that they had again struck a Saudi tanker in the Red Sea as part of what they describe as a blockade of Saudi oil shipments along the main route used to bypass the Strait of Hormuz.

Also Watch:

Indian Vessel Sinks Near Yemen

A projectile sank an Indian-flagged vessel near Yemen on Tuesday, according to Indian officials. All 14 crew members, including 13 Indians, were rescued.

The Houthis' rivals in Yemen, a government based in the south of the country, blamed the attack on the Houthis.

The latest developments come as negotiations continue over the Strait of Hormuz, with the scope of Iranian control, inspection arrangements and potential transit fees remaining among the key unresolved issues.

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