IRAN TO UNVEIL TEMPORARY HORMUZ SHIPPING AGREEMENT WITH OMAN

Iran is due to present Gulf nations with a temporary shipping agreement covering the Strait of Hormuz on Monday, according to a person familiar with the matter. Iranian Foreign Minister Abbas Araghchi said Tehran will share details of the deal, agreed with Oman, and new route maps at a meeting with Gulf states, adding that it would not mean a reopening of the strait "in any way." Reports differed on the meeting's location, naming either the southern Omani city of Salalah or the Omani capital. Iran said it will still decide which vessels may cross the waterway.

Talks between Tehran and Muscat over the strait, a major route for global energy shipments, have progressed in recent weeks. Araghchi said a full reopening remains conditional on the United States honouring commitments made under a memorandum of understanding signed in Islamabad. Further terms, including fees that may be charged to ships, will be negotiated between Iran and Oman after Monday's meeting. Araghchi described the meeting as "an important event" and a step towards building trust, in comments to Al Araby Al Jadid. He said Iran believes responsibility for security and stability in the region lies solely with the countries of the region.

The announcement follows a rare public meeting between Abu Dhabi Crown Prince Sheikh Khaled bin Mohamed bin Zayed al-Nahyan and Iranian President Masoud Pezeshkian, held on the sidelines of the Brics summit in India. Oman had been seeking to bring together foreign ministers from the Gulf Cooperation Council for Monday's talks. The strait is a key corridor for global energy exports. Further talks between Tehran and Muscat on the shipping lane's terms, including charges for vessels, are expected to continue.