Trump to hand Iran 'control it didn't have before war' in deal to re-open Strait of Hormuz

Trump to hand Iran 'control it didn't have before war' in deal to re-open Strait of Hormuz About 20% of all global oil traded passed through the Strait of Hormuz prior to the conflict, which sparked after the US and Israel carried out joint strikes on several Iranian sites The US, Iran, and Oman are reported to be nearing an interim agreement to reopen the Strait of Hormuz, Axios news outlet reported, citing two regional sources and a US official. According to the report, the US is aiming for an announcement on Wednesday. The critical waterway has been a contentious issue in the US-Iran war. The US and Israel carried out joint strikes on several key Iranian sites on February 28 and Iran retaliated by striking sites across the Middle East and closing the strait. About 20% of all global oil traded passed through the Strait of Hormuz prior to the conflict, but its closure has choked the flow of oil out of the Middle East, caused volatility in global markets and driven up fuel prices at the pumps. The US and Iran signed a Memorandum of Understanding (MoU) on June 17 to bring the war to a close within 60 days. Washington and Tehran were working towards securing a lasting peace agreement, restore international shipping through the Strait of Hormuz and seek to settle an ongoing dispute over Tehran's nuclear programme. However, the agreement was short-lived and conflict resumed not even one month after the MoU was signed. It is understood that the Axios-reported interim agreement has been under negotiations for several weeks. It is aimed at resuming the ceasefire between the US and Iran and restarting negotiations over a nuclear deal. Axios reports that the potential "deal would meet some of Iran's demands for greater control over traffic in the Strait of Hormuz - control it didn't have before the war." The deal being discussed will enable a 60-day temporary arrangement between Oman and Iran in the strait, which could be extended, according to the sources. Axios reports that the deal would include the following points: - All inbound traffic of ships through the strait and into the Gulf would go in a northern lane through Iranian waters - All outbound traffic through the strait and into the Arabian Sea would go in a southern lane through Omani waters, in coordination with Iran - No tolls or fees would be charged during the 60-day period - The parties would work on clearing naval mines from the median lane of the strait within 30 days - After the median lane is cleared, it would be used for inbound and outbound traffic under the terms of a permanent arrangement to be negotiated between Oman and Iran US President Donald Trump decided not to follow through on threats of a massive bombing campaign to provide for to more time for diplomacy. If a deal is not reached soon, however, Trump could green-light major strikes. Speaking to Fox News, Mr Trump said: "The Strait is going to be open very soon - or they're gonna hit very hard, and then the Strait is going to be open."