Iran and Oman have reached an agreement on revenue sharing in the Strait of Hormuz. The two sides also discussed territorial waters and a mechanism for managing the shipping route. The agreement does not mean the Strait of Hormuz will immediately reopen fully. Broader progress still depends on tensions between the U.S. and Iran.This is a sign of easing tensions, but Hormuz cannot simply be “fully reopened” because of a revenue-sharing agreement alone.
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