U.S. nears Hormuz deal, aiming for Wednesday announcement

Axios reports the U.S., Iran, and Oman are closing in on an interim agreement to reopen the Strait of Hormuz, with an announcement expected Wednesday. The deal establishes a 60-day temporary arrangement: inbound ship traffic uses a northern lane through Iranian waters, outbound traffic uses a southern lane through Omani waters, with no tolls or fees during this period. The parties plan to clear naval mines from the median lane within 30 days; once cleared, it would support both directions under a permanent arrangement to be negotiated. The agreement follows President Trump's decision to step back from threats of a major bombing campaign and pursue diplomacy instead, and it grants Iran some of the greater control over strait traffic it has sought—control it did not have before the current conflict. The deal carries risk: three weeks ago, the same parties believed they had reached agreement, only for Iran to resume attacks on ships, triggering two weeks of fighting that brought the region to the brink of all-out war.

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