US and Iran reach 'agreement in principle' to reopen Strait of Hormuz

The United States and Iran have reportedly reached an 'agreement in principle' to resume shipping through the Strait of Hormuz, according to The New York Times. However, sources indicate that a final formal deal has not yet been signed.

The United States and Iran have reached an 'agreement in principle' regarding the reopening of the Strait of Hormuz to maritime traffic, The New York Times reported, citing unnamed sources familiar with the negotiations.

The Strait of Hormuz, located between Iran and Oman, is one of the world's most strategically critical waterways. Approximately 20% of global oil trade passes through the strait, making any disruption to navigation there a major concern for international energy markets and global shipping.

Despite the reported breakthrough, sources told The New York Times that a finalized formal agreement between Washington and Tehran has not yet been concluded. The deal remains in an early stage, and details of the arrangement have not been made public.

Tensions over the Strait of Hormuz have been a recurring flashpoint in US-Iran relations, with Iran periodically threatening to close the passage in response to international pressure over its nuclear program or regional conflicts. Any agreement to guarantee free navigation would carry significant geopolitical and economic implications well beyond the two countries involved.