Iran to unveil temporary shipping lane agreement through Strait of Hormuz

Iran plans to formally unveil an agreement on a temporary shipping lane through the Strait of Hormuz on Monday, after a flurry of diplomatic activity including a rare meeting between senior officials from Tehran and Abu Dhabi.

The Islamic Republic is set to reveal to Gulf nations its agreement with Oman on a temporary new shipping lane, according to a person familiar with the matter.

Negotiations on details such as the fees ships may be charged will continue between the two countries later, they said, asking not to be identified when discussing private deliberations.

Talks between Tehran and Muscat over the waterway, a global chokepoint for energy exports, have progressed in recent weeks and the latter had been aiming to bring together foreign ministers from the Gulf Cooperation Council on Monday in Salalah, a southern Omani city.

Tehran has indicated any deal will not amount to a full reopening and it will still decide on which ships can cross the strait. Iranian Foreign Minister Abbas Araghchi described the proposed meeting as an “important event” and a step towards building trust, in an interview with Al Araby Al Jadid newspaper.