Oman proposes two separate corridors for the Strait of Hormuz; Araghchi takes the plan to Tehran for a decision

Oman has proposed managing shipping through the Strait of Hormuz via two separately controlled routes. According to reports citing a source familiar with the talks, a Southern Corridor running through Omani territorial waters would allow free navigation under prewar conditions, while a Northern Corridor through Iranian waters would require prior approval from Tehran, though no tolls would be charged.

The plan was presented on Saturday, 11 July 2026, during Iranian Foreign Minister Abbas Araghchi's visit to Muscat and his meeting with his Omani counterpart. Reports say the Iranian delegation did not approve the proposal and took it to Tehran for review; Oman said the two sides agreed to continue talks at the technical and political levels. The plan has not been finalized.

The matter is significant for markets because the Strait of Hormuz carried about 20 percent of the world's oil and gas before the recent tensions. Iran has declared the strait closed, while the United States and the Joint Maritime Information Center say the route remains open. Any mechanism to restore safe passage would bear directly on oil prices and Iran's markets.