Arsalan Shahla

Iranian Foreign Minister Abbas Araghchi and his Omani counterpart Badr Albusaidi discussed an “interim framework” aimed at resuming shipping through

Iran said it reached a revenue-sharing agreement with Oman on the Strait of Hormuz, as the two sides push for a wider deal on the management of the crucial waterway.

Iran said it reached a revenue-sharing agreement with Oman on the Strait of Hormuz, as the two sides push for a wider deal on the management of the crucial waterway.

Iranian officials have repeatedly warned that a deal with Oman on the strait's navigation would not equate to an immediate re-opening of the waterway that served as a conduit for a fifth of the world's oil and liquefied natural gas before the war.

Iran's military said it reached a revenue-sharing agreement with Oman on the Strait of Hormuz, as the two sides push for a wider deal on the management of the crucial waterway.

Iran’s economy was already under strain before the US and Israel launched their war on the Islamic Republic, grappling with negative growth, soaring inflation and a currency crisis. Those problems were compounded by strikes on the nation’s civilian and industrial infrastructure and the US naval blockade of Iranian ports.

(Bloomberg) -- The US attacked more Iranian oil tankers overnight, with the worsening tensions over control of the Strait of Hormuz sending Brent crude beyond $100 a barrel.

Abu Dhabi Crown Prince Sheikh Khaled bin Mohamed Al Nahyan met Iranian President Masoud Pezeshkian, as the Islamic Republic touts a potential deal to allow more ships through the 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.

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.