world π’ Iran & Oman finalize Hormuz transit route details
Iran confirmed that talks with Oman regarding future transit routes through the Strait of Hormuz are nearing completion. This progress was announced by Iran's Foreign Ministry spokesperson on Wednesday, after two months of discussions aimed at ensuring safe commercial shipping. The geographical coordinates for the route have been agreed upon, with the joint statement in the final drafting stage. This new route would use parts of both Iran's and Oman's territorial waters for a period of two to four months. The closure of the strait has disrupted about 20 percent of global oil and LNG exports. π’