Iran, Oman Agree to Share Strait of Hormuz Revenue, IRGC Says

(Bloomberg) -- Iran said it reached a revenue-sharing agreement with Oman on the Strait of Hormuz, as the two sides push for a wider deal on the management of the crucial waterway.

"Agreements have been reached regarding each country's share of the strait's waters as well as Iran and Oman's share of its revenues," the Islamic Revolutionary Guard Corps said on Wednesday, according to the state-run Sepah News agency.

"We have reached results that are acceptable to both sides," he added.

The countries' foreign ministries issued a joint statement on Tuesday saying that they discussed an "interim framework" aimed at resuming shipping through the waterway, but stopped short of announcing a final deal and didn't mention fees.

Iranian Foreign Minister Abbas Araghchi hasn't confirmed the latest announcement. Oman's Foreign Ministry didn't immediately respond to a request for comment.

The Strait of Hormuz, through which about a fifth of the world's oil and liquefied natural gas previously passed, has remained largely closed since March, when Iran moved to block the waterway following US and Israeli attacks on Feb. 28 that killed Supreme Leader Ali Khamenei.