Iran and Oman Say They’ll Work on Pact for Hormuz Transit Costs

Iran and Oman Say They’ll Work on Pact for Hormuz Transit Costs Iran and Oman said they’ll begin work on finding an agreement over the future administration of the Strait of Hormuz, including the cost of managing transit, as traders and shipowners fret over the prospect of the introduction of a tolling arrangement. The two nations — which border the narrow opening to the Persian Gulf — will begin discussions on the services relating to navigation, including “costs associated with them in accordance with international standards,” according to a joint statement. They added that both countries are committed to keeping Hormuz secure and open for international navigation.