A proposed agreement between Iran and Oman would give Tehran control over ships entering the Gulf through the Strait of Hormuz, according to Reuters, which cited four industry sources. The report said the arrangement is running into practical obstacles before implementation. The main barriers are U.S. sanctions and restrictive insurance clauses tied to any payments connected with the deal. Those constraints, as described by the sources, make the agreement difficult to put into effect despite the reported plan. The development centers on one of the world’s most strategically important shipping chokepoints, but the report stops at the proposed terms and the obstacles identified by the sources.
A proposed agreement between Iran and Oman would give Tehran control over ships entering the Gulf through the Strait of Hormuz, according to Reuters, citing four industry sources.
The arrangement faces implementation problems, the report said, because of U.S. sanctions and restrictive insurance clauses attached to any payments related to the deal.
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