Iran and Oman have reached the final stages of an agreement to establish a temporary safe shipping corridor through the Strait of Hormuz, the waterway that handles approximately 20% of the world’s seaborne oil and liquefied natural gas traffic. The proposed corridor would span 7 miles (11.3 km) in width, operate for 30 to 60 days with no tolls charged to transiting vessels, though a service fee to cover operational costs has been proposed with revenues split equally between the two nations. Tehran has made clear that full reopening of the Strait depends on US sanctions relief tied to a broader agreement stemming from a June 2026 Memorandum of Understanding. The involvement of Iran’s Islamic Revolutionary Guard Corps in managing the corridor introduces compliance risks for international shipping companies operating under strict sanctions regimes.
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