(Aug 5): The prospect of an interim deal focused on the Strait of Hormuz gained traction after Qatar said a proposal had been drafted and both American and Iranian officials sounded hopeful about reopening the crucial waterway.
US President Donald Trump discussed efforts to de-escalate US-Iran tensions with Qatar’s Emir Sheikh Tamim Bin Hamad Al-Thani in a call Tuesday, according to the Gulf state’s government. A White House official confirmed the call, but didn’t offer additional details.
“We’re having very good discussions, they don’t like to admit that,” Trump told Fox News in an interview recorded Tuesday night concerning talks with Iran. He added, however, that “if they don’t make a deal, it’s going to be too bad”.
Axios reported that the US, Iran and Oman are preparing to announce as soon as Wednesday a 60-day agreement on shipping through the Strait of Hormuz. Under the proposal, inbound vessels would use a northern lane near Iran, while outbound traffic would travel through Omani waters in coordination with Iran, citing two regional sources and a US official.
No tolls or fees would be charged during the 60-day agreement, Axios said. Iran and Oman would also work to clear mines from a middle shipping lane for two-way traffic.
Brent crude traded at below US$79 a barrel as prospects for an agreement centred on reopening the strait gained momentum.
A short-term deal could help normalise commercial shipping in the strait — a crucial conduit for global energy supplies — and prevent the resumption of fighting in the Middle East. Yet even if such an agreement is reached, it might still fail to end the war or resolve Trump’s concerns about Iran’s nuclear programme.
The previous US-Iran ceasefire lasted less than a month before collapsing over disagreements about control of Hormuz, raising the risk that military strikes and Iranian retaliation could resume if another agreement unravels.
In a possible concession that could form part of an agreement, Iran is considering allowing European nations to remove mines from the strait, according to diplomats familiar with the matter, who spoke on condition of anonymity to discuss sensitive information.
That is contrary to Iran’s public stance, but in private meetings in recent weeks Tehran has softened its position. Iran’s foreign ministry didn’t immediately respond to a request for comment.
Both US Secretary of State Marco Rubio and Treasury Secretary Scott Bessent separately gave optimistic assessments of the Hormuz talks. Bessent suggested in an interview with CNBC that an accord on the chokepoint could come soon and would be based on “free of movement”.
Bessent’s comments came after the foreign ministry of Qatar, one of the main mediators between Washington and Tehran, said a proposed de-escalation resolution was “being circulated between the parties”.
Iran’s state-run IRIB News cited the country’s Foreign Ministry spokesman Esmail Baghaei as saying the talks between Iran and Oman had been positive. He said ongoing discussions were focused on “defining safe outbound and inbound routes for vessels”.
But both Qatar and US officials have cautioned there’s no agreement yet. Throughout the conflict, US officials have repeatedly said a deal to open Hormuz was close, with nothing materialising.
A Qatari spokesman said he couldn’t provide a timeline for a pact and that the focus was on finding a short-term resolution to avoid a further confrontation. It’s unclear whether Qatar was referring to negotiations between Iran and Oman to get more ships sailing through the Strait of Hormuz.
Tensions have heightened in recent days, with Trump saying he was giving Iran a final chance to reach an agreement. Over the weekend, he held off on attacks that he said would have been the largest since World War II.
A diplomatic breakthrough appears to hinge on the talks between Oman and Iran, though Tehran continues to insist it has the right to control maritime traffic and stop vessels that pass through the strait without its permission. The impasse underscores Trump’s difficulty in ending the war he launched in late February, which has driven up energy prices before November’s midterm elections.
The Islamic Republic has vowed to retaliate fiercely against any major US-Israeli strikes. Throughout the conflict, it has caused significant damage to Gulf Arab states such as Kuwait, Bahrain, Saudi Arabia and the United Arab Emirates with one-way attack drones and ballistic missiles.
The Trump administration has also faced questions about US weapons stockpiles after Reuters reported the Army had used up most of its long-range precision missiles. Trump dismissed those concerns Tuesday, saying the US had “far more munitions than anyone in the world” and that defence companies were stepping up production.
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