Iran and Oman have reached the final stages of an agreement to create a temporary, jointly managed shipping corridor through the Strait of Hormuz, a critical global energy chokepoint. Finalized during talks in Tehran on August 25-26, 2026, the proposed lane would be 7 miles (11.3 km) wide and require vessels to obtain direct permission from Iranian authorities. The arrangement is expected to last 30 to 60 days, although some reporting suggests it could extend to two to four months. Ships would pay no tolls, while a proposed service fee would cover operating costs and be divided equally between Iran and Oman. The plan includes joint mine clearance, with the Islamic Revolutionary Guard Corps involved in security discussions, and a possible future coordination center for traffic management. Iran says the Strait will not fully reopen until the United States meets commitments under a lapsed June 2026 Memorandum of Understanding, particularly on sanctions relief. The waterway carries approximately 20% of global seaborne oil and liquefied natural gas traffic, making the corridor's operation and compliance framework important to international shipping companies.