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Bloomberg: Iran to declare temporary Strait of Hormuz shipping route
Iran officially announced an agreement to establish a temporary shipping corridor through the Strait of Hormuz, following diplomatic moves that included a rare meeting between officials from Tehran and Abu Dhabi on the sidelines of the BRICS summit in India. Iran will present to the Gulf Cooperation Council countries the agreement it reached with Oman, while negotiations continue over some details such as fees for passing ships. Tehran also reaffirmed that the agreement does not entail a full reopening of the strait and that it will retain the authority to determine which ships are allowed to pass through.
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