A proposed agreement between Iran and Oman would grant Tehran control over ships entering the Gulf through the Strait of Hormuz, according to a senior Iranian source and two regional officials who spoke to Reuters on Wednesday, August 5, 2026. This marks one of the largest concessions made to Iran in the ongoing negotiations.

Despite this development, the sources cautioned against claims by United States President Donald Trump and senior US officials that a deal to reopen the strait is imminent. They noted that significant details remain unresolved, particularly regarding the definition of "control" and Iran's role over ships exiting the Gulf.

"The concession has already been made regarding some form of control over Hormuz," one regional source told Reuters. Another regional official emphasized that Gulf countries are insisting on supervising ship inspections and that any fees paid should be voluntary.

The senior Iranian source explained that the draft agreement envisions Iran controlling ships heading into the Gulf via the strait, with ongoing discussions about Iran's authority over outbound vessels. Iran is reportedly seeking fees between 5% and 7% of cargo prices from ships using the strait.

Meanwhile, President Trump and his administration have stated in recent days that a deal to end the war launched in February is near, despite polls showing most US voters oppose the conflict. Trump, who initially declared that "Operation Epic Fury" would end with Iran's "unconditional surrender," faces pressure to find an exit strategy as public opposition grows.

The situation remains tense, with oil prices rising after the Iran-aligned Houthi movement in Yemen claimed to have fired on a Saudi-flagged tanker in the Red Sea on Wednesday. The Houthis assert they are enforcing a blockade of Saudi oil shipments through alternative routes bypassing the Strait of Hormuz.

Sources also noted that Iranian Foreign Minister Abbas Araghchi was on holiday, downplaying expectations of a swift finalization of the deal.

Sources