Iran and Oman Open Temporary Hormuz Route; Full Reopening Tied to US Sanctions Relief

Iran and Oman agreed August 25 on a temporary Strait of Hormuz shipping route through Iranian waters, giving Tehran partial control over exit lanes. The strait — closed since early March, previously carrying over one-fifth of global oil and gas — will not fully reopen, Iran says, until the US lifts sanctions and unfreezes Iranian assets.