On August 6, Iran's Deputy Foreign Minister Gharibabadi said an agreement between Iran and Oman on the passage of commercial vessels through the Strait of Hormuz is near finalization. The two sides are planning to establish a new transit model different from that of the past 60 years. Gharibabadi also noted that Iran and the US are not currently in direct negotiations, although Tehran has received messages from Washington indicating the US is prepared to resume honoring commitments under a previously signed memorandum of understanding. Markets continue to watch how the situation around the Strait of Hormuz evolves, particularly its potential impact on crude oil, gold, and safe-haven assets.
BlockBeats, August 6 — Iran's Deputy Foreign Minister Gharibabadi said Iran and Oman are close to finalizing an agreement on commercial vessel passage through the Strait of Hormuz, with both sides planning a new transit model distinct from the past 60 years.
Gharibabadi said Iran and the US are not currently in direct negotiations, but Iran has received messages from Washington indicating readiness to resume fulfilling commitments under the previously signed memorandum of understanding. The market continues to monitor how Hormuz situation changes may affect crude oil, gold, and safe-haven assets.
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