Iran, Oman Agree on Hormuz Share, Revenue Distribution

Iran and Oman have reached agreements concerning the division of the Strait of Hormuz and the distribution of associated revenues, according to statements from the Islamic Revolutionary Guard Corps.

These understandings mark a significant development in the bilateral relations between the two nations, particularly regarding a strategically vital waterway. The specifics of the revenue-sharing model and the operational details for the Strait of Hormuz are expected to be further clarified as implementation progresses.