Proposed Hormuz Deal Would Give Iran Control Over Inbound Shipping Traffic

Iran and Oman reported on 7 August 2026 that an agreement to reopen the Strait of Hormuz is "on the verge of being finalised." Reuters reported on 5 August that the proposed deal would give Iran control over inbound commercial shipping traffic through the strait — a key global oil transit chokepoint — rather than restoring full freedom of navigation. Trump has not formally signed off.