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strikeAug 5, 2026

US-Iran-Oman near interim deal to reopen Strait of Hormuz: Report

Summary

Washington DC: The United States is close to finalising an interim agreement with Iran and Oman to reopen the Strait of Hormuz, which has once again witnessed heightened tensions following the collapse of the 14-point Memorandum of Understanding (MoU) between Washington and Tehran last month, reported Axios. The US is aiming to announce the deal on Wednesday, Axios reported, citing two regional sources and a US official. According to the Axios report, the proposed arrangement is intended to restore the ceasefire between the US and Iran, which collapsed last month, and pave the way for the resumption of negotiations with Tehran, including its nuclear programme. Also Read: US-Iran talks: Rubio says progress made on Strait, nuclear deal The development comes after US President Donald Trump decided on Saturday not to proceed with previously threatened large-scale military strikes against Iran, opting instead to allow more time for diplomatic efforts after consultation with the Gulf Partners. However, if an agreement is not reached soon, Trump had threatened to still authorise major military action on the Islamic Republic. As reported by Axios, the draft agreement under discussion envisages a 60-day temporary arrangement between Oman and Iran governing maritime traffic through the Strait of Hormuz, with the possibility of an extension. Under the proposed framework, all inbound vessel traffic entering the Gulf would transit through a northern shipping lane in Iranian waters, while outbound traffic heading towards the Arabian Sea would use a southern lane in Omwaters in coordination with Iran. The report further said that no tolls or transit fees would be imposed during the 60-day period. The proposed arrangement also includes a plan to clear naval mines from the median shipping lane within 30 days, as reported by Axios. Once the lane is cleared, it would be used for both inbound and outbound maritime traffic under the terms of a permanent agreement to be negotiated between Oman and Iran, Axios reported. According to the report, the White House, Oman and regional mediators had believed they had secured a similar understanding with Iran nearly three weeks ago. However, the effort collapsed after Iran allegedly resumed attacks on ships, triggering two weeks of fighting that brought the region close to a broader conflict. Citing regional sources, Axios reported that, alongside talks between Oman and Iran, officials from Qatar, Pakistan and Saudi Arabia also played roles in mediation efforts. The report further said that the White House remained actively involved in the negotiations. Also Read: US hopeful of Hormuz deal within days as diplomacy with Iran gathers pace According to Axios, in recent days, US Special Envoy Steve Witkoff held multiple conversations with Iranian Foreign Minister Abbas Araghchi and Omani Foreign Minister Badr al-Busaidi as part of efforts to finalise the agreement. According to two regional sources cited by Axios, Araghchi agreed in principle to the proposed arrangement over the weekend but required approval from Iran's Supreme Leader, Mojtaba Khamenei, and the country's Supreme National Security Council to finalise the matter. A US official and a regional source told Axios that Iran's leadership completed the approval process on Tuesday, bringing the parties closer to a formal announcement. (You can now subscribe to our Economic Times WhatsApp channel) The US is aiming to announce the deal on Wednesday, Axios reported, citing two regional sources and a US official. According to the Axios report, the proposed arrangement is intended to restore the ceasefire between the US and Iran, which collapsed last month, and pave the way for the resumption of negotiations with Tehran, including its nuclear programme. Also Read: US-Iran talks: Rubio says progress made on Strait, nuclear deal The development comes after US President Donald Trump decided on Saturday not to proceed with previously threatened large-scale military strikes against Iran, opting instead to allow more time for diplomatic efforts after consultation with the Gulf Partners. However, if an agreement is not reached soon, Trump had threatened to still authorise major military action on the Islamic Republic. As reported by Axios, the draft agreement under discussion envisages a 60-day temporary arrangement between Oman and Iran governing maritime traffic through the Strait of Hormuz, with the possibility of an extension. Under the proposed framework, all inbound vessel traffic entering the Gulf would transit through a northern shipping lane in Iranian waters, while outbound traffic heading towards the Arabian Sea would use a southern lane in Omwaters in coordination with Iran. The report further said that no tolls or transit fees would be imposed during the 60-day period. The proposed arrangement also includes a plan to clear naval mines from the median shipping lane within 30 days, as reported by Axios. Once the lane is cleared, it would be used for both inbound and outbound maritime traffic under the terms of a permanent agreement to be negotiated between Oman and Iran, Axios reported. According to the report, the White House, Oman and regional mediators had believed they had secured a similar understanding with Iran nearly three weeks ago. However, the effort collapsed after Iran allegedly resumed attacks on ships, triggering two weeks of fighting that brought the region close to a broader conflict. Citing regional sources, Axios reported that, alongside talks between Oman and Iran, officials from Qatar, Pakistan and Saudi Arabia also played roles in mediation efforts. The report further said that the White House remained actively involved in the negotiations. Also Read: US hopeful of Hormuz deal within days as diplomacy with Iran gathers pace According to Axios, in recent days, US Special Envoy Steve Witkoff held multiple conversations with Iranian Foreign Minister Abbas Araghchi and Omani Foreign Minister Badr al-Busaidi as part of efforts to finalise the agreement. According to two regional sources cited by Axios, Araghchi agreed in principle to the proposed arrangement over the weekend but required approval from Iran's Supreme Leader, Mojtaba Khamenei, and the country's Supreme National Security Council to finalise the matter. A US official and a regional source told Axios that Iran's leadership completed the approval process on Tuesday, bringing the parties closer to a formal announcement. (You can now subscribe to our Economic Times WhatsApp channel) (You can now subscribe to our Economic Times WhatsApp channel) Explore More Stories

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  • SECTIONS US-Iran-Oman near interim dealBy SECTIONS US-Iran-Oman near interim deal

    Washington DC: The United States is close to finalising an interim agreement with Iran and Oman to reopen the Strait of Hormuz, which has once again witnessed heightened tensions following the collapse of the 14-point Memorandum of Understanding (MoU) between Washington and Tehra

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Iran says it struck US drone vessel in Strait of Hormuz, US denies claim Iran said it struck an unmanned US vessel entering the Strait of Hormuz, a claim Washington flatly rejected. The exchange deepens fears over oil shipping, stalled nuclear diplomacy and a ceasefire that is steadily unravelling.

Iran said on Sunday that it had struck an unmanned US vessel trying to enter the Strait of Hormuz, a claim the US military rejected as a "total lie". The exchange came a day after the US military said its forces struck three Iranian oil tankers in response to Navy warships being targeted with ballistic missiles.

The latest claims mark another escalation in the conflict, which began with US and Israeli attacks on Iran on February 28. Although a fragile ceasefire was announced in June, intermittent fighting has continued as negotiations collapsed and both sides kept trying to impose military and economic costs on each other.

Experts described the reported attack as dangerous, particularly because Iran's earlier attacks at sea had targeted commercial shipping. The US and Iran resumed attacks last week after about a month of relative calm, with the Strait of Hormuz and areas along Iran's southern coast again coming under attack.

Earlier in the week, at least five people were killed during a US bombardment that brought renewed focus to an area where a school was hit in the war's opening strikes. The Trump administration appears to have adopted a two-pronged approach to the conflict, responding militarily to attacks on the strait while also targeting foreign financial institutions that handle Iran's money.

At the same time, Tehran's new hard-line senior leaders have signalled that they are prepared to hold their ground after decades of sanctions. Iran has for years found ways to bypass sanctions, and now a US blockade of its ports, and continue selling oil to buyers to ease growing economic pressure.

That effort depends in part on a shadow fleet used to transport its oil. Iran's leverage is centred on the Strait of Hormuz, a key route for global oil and natural gas shipments that had been regarded as an international waterway before the war. On Sunday, US Energy Secretary Chris Wright said that an average of 9 million barrels of oil a day are passing through the strait, which he said should help ease pressure on energy prices.

His estimate appeared to be higher than the average flows over the past 28 days through the strait, according to TankerTrackers.com and other sources. Wright told CNN that with oil also moving through pipelines in the region, "we're probably two-thirds or more of pre-conflict flows.

" But those flows depend on the US Navy's presence to escort tankers and offer some protection against possible Iranian attacks. Wright said he expected other countries would eventually support the Navy's efforts. Meanwhile, Iran's nuclear programme, which was at the centre of the tensions that helped trigger the war, was supposed to be addressed in negotiations that fell apart soon after the US and Iran signed a memorandum of understanding in mid-June.

Diplomats say the US, Britain, France and Germany now want to refer Iran to the UN Security Council for failing to meet its nuclear non-proliferation obligations. Taken together, the fresh military claims, pressure on oil flows and stalled diplomacy underline how the conflict has continued despite the June ceasefire.

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Iran War Day 191: Iran Threatens ‘More Intense and More Painful’ Retaliation After U.S. Strikes Mohammad Ghalibaf, the speaker of Iran’s parliament, issued new threats to the United States on Sunday. Following the apparent crippling of three Iranian oil tankers in U.

S. strikes on Saturday, Ghalibaf said his country would escalate its responses. “The era of proportionate responses has come to an end,” Ghalibaf asserted in a speech broadcast in Iran, adding that “any aggression against Iran's interests and security will receive a faster, more intense and more painful response.

” Iran’s Islamic Revolutionary Guard Corps also said it launched retaliatory attacks on several U.S.-affiliated ships Saturday, including what it claimed was a successful strike on a U.S. Navy drone (a Pentagon spokesman denied this). Subscribe Today Get daily emails in your inbox Elsewhere in the Middle East, Israel conducted strikes in southern Lebanon and the Gaza Strip.

Press reports indicate the strikes in Lebanon—which the IDF said followed an attempted Hezbollah attack on its troops—killed at least 7 and left 20 more injured. The strike in Gaza reportedly left two people dead, including a six-year-old girl. In the United States, Energy Secretary Chris Wright suggested the White House may never reach a deal to eliminate Iran’s nuclear program.

“There may not be a nuclear agreement,” Wright told ABC News on Sunday, “it may be simply destroying their capabilities to do it. An agreement may await the next administration in Iran. We simply don’t know that.” AAA reported that the average price of gasoline in the United States was $4.

15 per gallon.

Location: Iran
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Republican Sen. John Kennedy of Louisiana said Sunday he does not expect the ongoing conflict with Iran to be resolved before the November midterm elections, offering a wide ranging assessment of foreign policy, inflation and several closely watched Senate races during an appearance on a major Sunday political program.

Kennedy’s comments came just days after the U.S. military struck Iranian oil tankers in response to Iran launching missiles toward two Navy ships. Despite acknowledging the conflict remains unresolved, Kennedy argued that the broader region has become safer due to weakened adversaries, pointing to reduced threats from several groups and the removal of a longtime foreign leader from power.

He also defended the ongoing blockade affecting the Strait of Hormuz, describing it as an effective pressure tactic against Iran’s government even as it contributes to elevated fuel prices domestically. Inflation remains a top concern Turning to economic matters, Kennedy acknowledged that inflation continues to weigh heavily on American households, even as he characterized other aspects of the economy as relatively strong.

He cited several encouraging indicators, including 1. low unemployment 2. rising wages 3. a roughly 12 percent increase in average tax refunds 4. the creation of 136,000 jobs last month. Despite those figures, Kennedy said persistent inflation continues to erode confidence among voters and acknowledged that Senate Republicans missed an opportunity months ago to address the issue through a reconciliation bill.

He attributed the failure to a lack of support from party leadership and insufficient votes within his own conference, while maintaining there is still time before the election to take further action. Texas Senate race draws national attention Kennedy also addressed the competitive Senate race in Texas, where a Republican has not lost a Senate seat in 38 years.

With a recent infusion of campaign funding from a political action committee aligned with President Donald Trump, Kennedy expressed confidence that Republicans would ultimately hold the seat, though he cautioned that the race remains unusually close compared to historical trends in the state.

He connected voter frustration in that race and others to broader anxieties about the cost of living, ongoing tension surrounding the Iran conflict and growing public unease over the rapid expansion of artificial intelligence infrastructure across the country.

Data centers face public pushback On the topic of data centers, Kennedy distanced himself from recent comments made by Trump suggesting that communities opposing new data center construction risked falling behind economically. Kennedy argued that the technology industry has done a poor job explaining the trade offs associated with artificial intelligence expansion, citing concerns among the public about job displacement, rising utility costs and heavy water usage tied to data center operations.

He suggested several changes could help ease public opposition, including transitioning toward closed loop water systems, requiring data centers to generate their own energy, improving the appearance of facility infrastructure and ending requests for state tax subsidies given the industry’s overall profitability.

Ukraine and Russia negotiations continue Kennedy also weighed in on ongoing diplomatic efforts involving Ukraine, following meetings between Russian President Vladimir Putin and senior Trump administration officials in Moscow. He expressed skepticism about Russia’s willingness to make concessions in any peace deal, while criticizing the House for failing to pass a sanctions bill targeting Russia.

Kennedy argued that continued economic pressure remains the most effective way to influence the Kremlin’s decision making moving forward. Defense secretary faces scrutiny Asked about renewed calls from a fellow Republican senator to replace Defense Secretary Pete Hegseth, Kennedy stopped short of fully endorsing recent leadership decisions but said he continues to support Hegseth absent clear evidence of wrongdoing.

Kennedy said his primary concerns center on increasing military resources, expanding drone based warfare capabilities in coordination with Ukraine and securing additional funding for the Defense Department. This article contains reporting originally published by NBC’s Meet the Press with Kristen Welker.

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Iran Vows 'Faster, More Painful' Response To US Attacks After Weekend Sea Battle

Iran's Parliament Speaker Mohammad Bagher Ghalibaf on Sunday announced a heightened military posture in the war with the US, saying that new attacks on the country will "meet a faster, heavier and more painful response."

"If they haven't understood by now, they should understand before it’s too late that the rules of the game have changed and that from now on, any violation of Iran’s interests and security will receive a ‘faster, heavier, and more painful’ response,” Ghalibaf said in a post on Telegram. He has warned that Iranian retaliation will no longer be "proportionate". Source: US Central Command

Ghalibaf also conceded that Iran faces severe economic pressures amid US-led sweeping sanctions and the campaign of 'strangulation' and isolation efforts.

"Severe fluctuations in the exchange rate, inflation, unemployment, and market management are fundamental challenges that have put serious pressure on people’s livelihoods," Ghalibaf said.

He also laid out that the Islamic Republic must aim to bolster domestic production and use technology to "devise short-term and permanent solutions." Iran's military has all along touted that it never stopped manufacturing missiles and drones, even as US-Israeli bombs decimated many industrial sites.

Ghalibaf's words come a day after the Islamic Revolutionary Guard Corps (IRGC) said it attacked three American military ships and three oil tankers using an "unauthorized" route in the Strait of Hormuz. Also, in the latest:

Iran said Sunday it struck an unmanned U.S. vessel trying to enter the Strait of Hormuz, a claim that the U.S. military dismissed as a "total lie."

The US military earlier on Saturday had struck three Iranian oil tankers, M/T Downy, M/T Stark 1, and M/T Kylo - in a major first of the conflict (that is, a US attack on civilian vessels).

The Iranian parliament speaker continues to try and troll Trump and Bessent on X:

Wheels up. Warm-ups before liftoff: Diesel ATH: Short it Your biggest creditor dumping: Good luck with Yentervention++ NOR cutting $80B: Rename Norway to Americaway Low recruitment: Debt-to-Service w/ DO[Israel's]W, per your puppeteers Oh. Fed's dot plot flashing red 😁 https://t.co/E1KzG1T6Yf pic.twitter.com/zJb56tsd7p — محمدباقر قالیباف | MB Ghalibaf (@mb_ghalibaf) September 6, 2026 Washington is meanwhile touting more and more energy flow through the Strait of Hormuz, while also appealing for other nations to help:

US Energy Secretary Chris Wright says on average nine million barrels of oil a day are getting through the Strait of Hormuz that should help relieve pressure on rising energy prices.

Wright told CNN with oil also moving through pipelines in the region, “we’re probably two-thirds or more of pre-conflict flows”.

Those flows, however, depend on the presence of the US Navy to help escort tankers and provide some protection against possible Iranian attacks. Wright said he expected other countries will eventually support the Navy’s efforts.

But events like this weekend are likely going to continue to escalate the crisis. "There’s going to be more clashes between the Iranians and the Americans. There can be miscalculations. There can be more civilian casualties" especially on the Iranian side, Sina Azodi, the director of the Middle East studies program at George Washington University, has explained.

The "small potatoes" conflict according to the Commander-in-Chief...

Reporter: Can you explain to the American people, if this is not a war, what exactly is it? Trump: A lot of people don’t call it a war. I call it a military conflict because it's small potatoes for us. It's not a big thing. Reporter: It certainly doesn’t feel like small… pic.twitter.com/a4hvccNCoD — Acyn (@Acyn) September 4, 2026 "The [US] secretary of defense can send more troops to the region, but I don’t think the Iranians are going to back down. They’re going to resist that blockade and impose further costs on the United States," the analyst said.

Indeed every escalation step ordered by Washington has typically resulted in the Iranians 'answering' with significant missile and drone attacks on US bases in the Gulf, and as far away as Jordan. Some analysts are calling this a successful 'debasification' campaign that has existed since the war's start.

Tyler Durden Sun, 09/06/2026 - 12:40