Iran and the US say a Strait of Hormuz deal is close, but one or both
would have to back down
[August 06, 2026]
By ELENA BECATOROS, SAMY MAGDY and DARLENE SUPERVILLE
CAIRO (AP) — Iran said Wednesday it is in the “final stage” of drafting
an agreement with Oman over the Strait of Hormuz, and U.S. President
Donald Trump has said a deal could be announced this week. That could
potentially reopen the critical waterway, ease pressure on the world
economy and help bring an end to the war.
But the agreement is likely to be contingent on the U.S. lifting its
blockade on Iran’s ports. The Trump administration has previously ruled
out any deal that would cement Iran's grip over the strait, which would
amount to a major loss for the U.S. and a break with global norms.
Iran has insisted on some measure of control over the strait, saying it
will not go back to being an open international waterway, as it was
before the war.
The U.S., along with Israel, launched the war on Feb. 28, citing various
goals including toppling Tehran’s government and ending its nuclear
program. Those have not been achieved, and the conflict has devolved
into a fight over the strait as Iran's assertion of control and attacks
on shipping have ground traffic to a near halt.
Closure of the strait, through which a fifth of the world’s traded oil
and natural gas once passed, has driven up the price of fuel and basic
goods, roiling the global economy. Trump is also under mounting pressure
to end an unpopular war ahead of U.S. congressional elections.
Iran’s Foreign Ministry spokesperson, Esmail Baghaei, said that the
agreement with Oman is in the “final stage” of drafting, and that a
joint statement will be issued “if certain parties do not obstruct this
process,” apparently referring to the U.S.
Regional officials tell AP negotiators have finalized a draft
Iranian and Omani negotiators have finalized the draft deal to reopen
the strait and await final approval from Iran’s Supreme Leader Ayatollah
Mojtaba Khamenei, two regional officials told The Associated Press on
Wednesday. Khamenei is believed to have been wounded in the war's
opening strikes and has not been seen in public since then.
The officials, who were briefed on the negotiations, portrayed the
potential deal as a temporary solution to the dispute over the strait.
They said it is tied to an agreement reached between the U.S. and Iran
in June that aimed at ending the fighting and reopening the waterway but
ultimately collapsed.
The officials, who spoke on condition of anonymity to discuss the
private talks, said the potential deal will pave the way for the U.S.
and Iran to resume negotiations on Tehran’s nuclear program.
Earlier, they had said the potential agreement would have ships enter
the Persian Gulf through an Iranian-controlled route and exit through a
route controlled by Oman. Service fees would be charged for providing
security and preserving the maritime environment, the officials said.
The U.S. has said it is strongly opposed to any arrangement that would
see Iran charge fees.
Trump said a deal to reopen the strait is close
Trump was asked on Tuesday evening by reporters about a report on the
Axios news site that an announcement on the strait could be made on
Wednesday.
“It could happen. Tomorrow or the next day,” Trump said. “A lot of
progress has been made.”
Vice President JD Vance acknowledged Wednesday that it can seem like the
U.S. is not making progress in Iran, describing the effort to end the
war as “messy” and that “it’s going to take some time”
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President Donald Trump arrives on Air Force One at Harry Reid
International Airport in Las Vegas, Tuesday, Aug. 4, 2026. (AP
Photo/Mark Schiefelbein)
Vance said in an interview that aired in the evening on Fox News
Channel that the Iranians are “extraordinarily difficult people” and
that efforts to try to resolve the war sometimes require moving
backward before moving forward.
Also on Wednesday, oil prices initially eased but later inched up.
Brent crude, the international standard, was around $80 per barrel —
still well below the levels it hit at the height of the conflict.
In recent days, Trump has alternately threatened massive strikes and
voiced support for diplomatic efforts.
Attacks on regional shipping continue
The Iranian-backed Houthi rebels in Yemen claimed Wednesday they had
fired ballistic missiles toward a Saudi oil tanker on the Red Sea
off the Saudi port of Yanbu, without providing evidence. There was
no immediate comment from Saudi Arabia.
A vessel sailing in the Gulf of Aden off Yemen reported a loud
explosion that happened in close proximity, the British military’s
United Kingdom Maritime Trade Operations center said Wednesday,
adding that the crew was safe. The Houthis claimed to have fired a
ballistic missile at another Saudi oil tanker.
A recent escalation between the rebels and Saudi Arabia threatens to
reignite Yemen's civil war, which pitted the Houthis against a
Saudi-led coalition supporting the country’s government.
In July, the Houthis announced they were closing the Bab el-Mandeb
Strait that leads to the Red Sea for Saudi-linked shipping. That
puts additional pressure on international shipping since the Red Sea
became a key alternative route for Saudi oil exports during the war.
Israel and Hezbollah’s ceasefire increasingly shaky
The shaky ceasefire between Israel and the Iran-backed militant
group Hezbollah grew more volatile Wednesday, as the Israeli
military issued an evacuation warning to residents of the southern
Lebanese village of Mansouri — the first such warning in weeks.
Later, the Israeli military said it had begun conducting “precise
strikes” in southern Lebanon in response to what it described as “a
blatant violation of the ceasefire” that had largely held since June
20.
The escalation came as Lebanese and Israeli negotiators met in Rome
for a second day to discuss implementation of a deal under which
Israeli forces are supposed to withdraw from areas they are
occupying in southern Lebanon in exchange for Hezbollah's
disarmament.
A State Department official said the talks in Rome ended early “due
to events on the ground” but could continue on Thursday. The
official, who spoke on condition of anonymity due to the sensitivity
of the diplomacy, said the discussions "were extremely productive.”
___
Becatoros reported from Athens, Greece, and Superville from Rancho
Palos Verdes, California. Aamer Madhani, Fatima Hussein, Matthew Lee
and Michelle L. Price in Washington and Claire Galofaro in
Louisville, Kentucky, contributed.
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