Oman has presented Iran with a proposal for a joint regional mechanism to manage the Strait of Hormuz with voluntary tariffs, Reuters news agency reports, citing its sources.
Under Oman's proposal, which has regional support, Iran would not exercise sole control over the waterway. The proposal is based on the Strait of Malacca, where those using the strait voluntarily contribute to fund navigation, environmental protection and search and rescue.
The US has suspended air strikes against Iran over the weekend, raising hopes for a diplomatic solution that would allow the resumption of shipping in the Strait of Hormuz.
US President Donald Trump said on Monday that the United States was having "good talks" with Iran and that there was a chance of a deal, but he warned that US strikes would resume if negotiations did not yield results.
Meanwhile, Iranian Foreign Minister Abbas Araqchi discussed the Strait of Hormuz with his Omani and Saudi counterparts on Monday. Araqchi stressed the need to strengthen cooperation and advance joint diplomatic efforts to establish stability in the region and remove the uncertainty imposed in the Strait of Hormuz due to the aggressive actions of the United States, the Iranian Foreign Ministry said in a statement.
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