Oman has presented a proposal to Iran for a joint regional mechanism to manage the Strait of Hormuz with voluntary fees, a Gulf source told Reuters on Tuesday.
Under the Omani proposal, “which has regional backing and was presented to Iranian officials over the weekend in Tehran, Iran would not exercise sole control of the vital waterway,” the source added, according to Reuters.
The proposal is based on the Strait of Malacca, which connects the Indian and Pacific Oceans and is jointly managed by the states bordering it: Indonesia, Malaysia, and Singapore.
Oman presented regional mechanism for Hormuz to Iran, source says https://t.co/23eqhvKEH9 https://t.co/23eqhvKEH9
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Under the proposal, those who use the Strait of Hormuz would voluntarily contribute to a fund that finances the cost of managing navigation, environmental protection and search and rescue, among other services.
Management of the Strait of Hormuz, which carried a fifth of global oil and liquefied natural gas before the conflict, has become the main hurdle in talks to bring the Iran war to an end and a flashpoint for repeated returns to conflict.
The United States has breached the Pakistan-brokered Memorandum of Understanding (MoU) of June 17 by attempting to conduct unauthorized naval maneuvers in the Strait of Hormuz, prompting the Iranian Navy to intercept the ships to uphold the agreement.
Talks have been underway with mediators to help implement the MoU.
Iran has said the strait cannot go back to its status before the war launched by the US and its ally, ‘Israel’, on February 28.
Source: Reuters (edited by Al-Manar)