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المشهد
Hormuz Deal or Conflict
Management of the Strait of Hormuz is emerging as a central issue in potential negotiations to end the war with Iran, as a return to the previous navigation regime appears impossible. The strait carried about 20% of the world’s seaborne oil exports, while Tehran is determined to retain its influence and Washington refuses to grant it sole control. A maritime-law expert has proposed an international declaration establishing joint management by Iran and Oman, with support from the United States, China and Europe. The aim would be to guarantee freedom of navigation and prevent the imposition of fees or military threats, in return for economic incentives for Tehran, including the release of its frozen assets. But disagreements over Iran’s conditions—including an end to the naval blockade and the withdrawal of US forces—as well as Washington’s refusal to grant Iran veto power, could leave the situation suspended between war and peace for the next two years. Meanwhile, Iran is facing annual inflation of nearly 140%.
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