Hormuz Could Be Reopened, Iran Sets Conditions
Iran has offered Oman a tentative plan to reopen the Strait of Hormuz. The shipping lane would be routed largely through waters under Iranian control.
Iranian Deputy Foreign Minister Kazem Gharibabadi said that one-way shipping would pass through Iranian territory. Part of the reverse direction would also enter Tehran-controlled territory.
Iran previously rejected Oman's proposal to divide shipping lanes equally between the two countries. Tehran considered the plan insufficient to address regional security concerns.
According to Iran, opening the Strait of Hormuz requires guarantees of long-term regional security and stability. Without such certainty, Tehran is unwilling to accept Oman's proposed division of the lane.
Iran has also emphasized that it has never recognized the southern route along the coast of Oman. The Strait of Hormuz will remain closed if Muscat rejects Tehran's latest proposal.
The uncertainty surrounding the opening of the lane could maintain concerns about global energy supplies. If a deal fails, oil prices could potentially come under further upward pressure as shipping activity has yet to return to normal. (arl)
Source: Newsmaker.id
