President Trump’s Announcement on Hormuz Agreement
President Donald Trump of the United States has stated that an agreement regarding the Strait of Hormuz could be finalized as early as Wednesday. This comes as Iran and Oman slowly work towards a pact that may ease global economic pressures and potentially help resolve the ongoing conflict surrounding the vital maritime passageway.
Background and Conflict
The United States, alongside Israel, initiated the conflict on February 28, aiming to overthrow the government in Tehran and halt its nuclear program. However, the ensuing struggle centered on the Strait of Hormuz after Iran’s threats and attacks on maritime transport blocked its passage. Previously, the strait facilitated a fifth of the world’s oil and natural gas trade; its closure has driven fuel and commodity prices up significantly, impacting the global economy.
Trump’s Statements on Progress
Facing pressure to end an unpopular war before midterm elections, Trump expressed optimism regarding a forthcoming agreement to reopen the strait. Responding to queries from reporters in California, he mentioned a report from the news site Axios suggesting that an announcement could occur on Wednesday.
“It could happen. Tomorrow or the next day,” Trump said on Tuesday night, noting, “A lot of progress has been made.”
Impact on Oil Prices and Current Attacks
Initially, oil prices fell in anticipation of an agreement that would permit resumed maritime transport. However, they later increased slightly, with Brent crude, the international benchmark, trading around $80 per barrel on Wednesday, a departure from the record levels during the height of the conflict.
Despite hopes for a near-term agreement, attacks on maritime transport in the region persist. The Yemeni Houthi rebels, supported by Iran, claimed to have fired ballistic missiles at the Saudi oil tanker Wafa in the Red Sea on Wednesday. Houthi military spokesperson Brigadier General Yahya Saree stated the vessel was targeted near the Saudi port city of Yanbu, though he presented no evidence. Saudi Arabia has not commented on the incident, which marks a recent escalation between the rebels and Riyadh, potentially rekindling Yemen’s civil war.
Continued Regional Tensions
In July, the Houthis declared the closure of the Bab el-Mandeb strait, a crucial Red Sea route, for Saudi-linked maritime transport. This adds further strain to international shipping as the Red Sea becomes a vital alternative for Saudi oil exports during the conflict.
On Tuesday, an India-flagged merchant vessel sank in the Red Sea offshore Yemen after being struck by a ship loaded with explosives, according to Yemeni and Indian authorities. Yemen’s coast guard rescued the crew, which included 13 Indians and a Yemeni. No group has claimed responsibility for the incident.
Earlier on Tuesday, a cargo ship reported being “hit by an unknown projectile” approximately 37 kilometers northeast of the Omani port city of Al Khasab in the Strait of Hormuz, according to the UK Maritime Trade Operations, which operates under the British military.
Details of the Potential Agreement
The forthcoming agreement arising from Iran and Oman’s discussions proposes that ships enter the Persian Gulf via a route controlled by Iran and exit through a route administered by Oman, according to two regional officials speaking to The Associated Press. Security and maritime environment preservation fees would be charged, they noted, opting for anonymity due to the sensitive negotiations.
The Trump administration had previously discarded any deal granting Iran control of the strait, a previously open international maritime passage severely reduced to minimal transit post-conflict. During a conversation with journalists on Monday, President Trump reiterated his public opposition to fee imposition.
“I’m not going to let them charge,” Trump declared. “If anyone’s going to charge, it’ll be us.”
Regional officials stated negotiations are ongoing and the final agreement might differ, possibly contingent upon lifting the U.S. blockade on Iranian ports.
Progress in U.S.-Iran Talks
Iran’s Foreign Ministry spokesperson, Esmail Baghaei, commented on Tuesday that Tehran’s talks with Oman focus on “establishing safe navigational corridors for entry and exit,” respecting sovereign rights while addressing the national security concerns of both nations.
“The final results of these negotiations will be announced once concluded,” he added, as reported by Iran’s state news agency IRNA.
U.S. Secretary of State Marco Rubio confirmed progress in these talks but noted they remain inconclusive.
Rubio had previously rejected any agreement granting Iran control over the strait, asserting last month that it would set a “very dangerous precedent.”
UN Criticism on Iran’s Executions
Volker Türk, the United Nations human rights chief, condemned what he characterized as an increase in executions and death sentences in Iran since March. Türk described the use of capital punishment as a tool to incite fear and suppress dissent.
At least 56 individuals have been executed since March 19, including 27 sentenced in cases linked to anti-government protests earlier this year. Türk stated that over 100 more are facing execution on similar charges.
“The persistent lack of fair trial guarantees and due process is deeply concerning,” he asserted, alleging confessions obtained under torture and mistreatment and noting that some reported executions were public.
Some executions reportedly occurred mere weeks following the suspect’s arrest.
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This story has been updated to correct the Houthi spokesperson’s surname to Yahya Saree, not Sare.
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Becatoros reported from Athens and Superville from Rancho Palos Verdes, California. Amer Madhani and Matthew Lee in Washington contributed to this report.
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This story was translated from English by an AP editor utilizing generative AI tools.
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