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[INTERNATIONAL] · Oman, Iran, Saudi Arabia, United Arab Emirates, Qatar · 10 sources

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Oman to host Iran and GCC talks to address Strait of Hormuz shipping crisis

Diplomatic efforts are underway to resolve the maritime crisis in the Strait of Hormuz. An initiative led by Oman aims to host a meeting in Salalah on Monday between the Iranian Foreign Minister and the foreign ministers of the six Gulf Cooperation Council (GCC) member states. This would mark the first high-level meeting between these parties since the onset of the conflict involving the US, Israel, and Iran.

The proposed plan involves a temporary maritime corridor where commercial vessels would enter the Strait through Iranian waters and exit via Omani waters to ensure safer and more predictable passage. While the GCC seeks a temporary arrangement to stabilize shipping, Iran is reportedly using the negotiations to push for the removal of US blockades on its ports and the reinstatement of oil sale exemptions.

Global energy markets remain sensitive to these developments. Ship traffic through the Strait has plummeted to approximately 7 vessels per day, down from a pre-war average of 125, contributing to Brent crude prices rising above $105 per barrel. However, the United States has indicated it will not return to previous understandings unless a more comprehensive agreement is reached, potentially including nuclear issues.

Entities

Abbas Araghchi · Gulf Cooperation Council · Iran · Iran · Oman · Strait of Hormuz · United States · United States

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