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Iranian Guard Blames US for Strait Delays
Sources have reported that the Iranian Revolutionary Guard confirmed that the United States is hindering an agreement between Iran and Oman to establish a secure maritime passage through the Strait of Hormuz. Both parties have reached an agreement regarding their respective shares of the passage and the revenues related to its management. The Guard clarified that the Strait will remain closed if Washington does not accept the Iranian conditions. During negotiations, discussions included establishing a temporary joint passage and removing mines, with talks ongoing to determine a permanent management arrangement for the Strait. This news caused oil prices to decline below $90 per barrel, along with a decrease in joint vessel traffic through the Strait, which is a crucial route for about one-fifth of the world's oil supplies.
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