IRAN SAYS U.S IS BLOCKING DEAL WITH OMAN TO REOPEN STRAIT OF HORMUZ, AS TRUMP INSISTS WATERWAY IS OPEN. (PHOTO).

Iran says U.S is blocking deal with Oman to reopen Strait of Hormuz, as Trump insists waterway is open

Iran’s Islamic Revolutionary Guard Corps said Wednesday that the United States is preventing an agreement with Oman aimed at establishing a safe shipping route through the Strait of Hormuz, while President Donald Trump maintained that the crucial waterway is already operating.

The IRGC said Iran and Oman have reached an understanding over how the strait would be managed, including arrangements involving revenue generated through its administration. The military group warned that the strait would remain closed unless Washington accepts Iran’s conditions.

Trump offered a sharply different assessment during a radio interview, saying ships are already moving through the strait despite occasional attacks involving drones or rockets.

“We take a lot of ships through the strait now. We’re taking them in,” Trump said, adding that the waterway remains functional and that significant volumes of oil are continuing to pass through it.

The dispute follows a joint statement from Iran and Oman saying their foreign ministers had discussed a framework for creating a temporary joint navigation corridor through the strait and working together to clear mines from the waterway.

The countries said further technical negotiations would address establishing a permanent shipping corridor, future administration of the strait, information sharing, traffic management, and navigation and security services.

The developments have contributed to continued declines in oil prices, with Brent crude falling below $90 a barrel overnight. Preliminary shipping data showed only five commodity vessels passed through the Strait of Hormuz on Tuesday, compared with a 10-day average of 15.

Before the conflict involving Iran, roughly one-fifth of the world’s crude oil supply typically moved through the strategically important waterway.

Oil prices have also been pressured by signs that the United States may not be anticipating an immediate escalation in the region. Washington has reportedly begun returning some diplomats to Gulf states, while Russian media has reported that the United States and Iran could announce another ceasefire agreement that would include freedom of navigation through Hormuz. That report has not been independently confirmed.

The dispute comes as the Trump administration prepares to intensify economic pressure on Tehran. Treasury Secretary Scott Bessent said Monday that the United States was preparing an “economic D-day” targeting Iran and those supporting its economy, announcing measures against 60 individuals, entities and vessels.

The administration has not yet imposed major secondary sanctions on other countries involved in trade with Iran, including Chinese financial institutions suspected of facilitating Iranian oil sales.

Bessent said Washington was attempting to avoid destabilizing the global financial system while giving affected parties time to adjust, but warned that the administration would move quickly.

China, which purchases the vast majority of Iran’s oil exports, has warned that it would take measures to protect its interests if Washington expands sanctions against countries doing business with Tehran.