Oman Proposes 2 Hormuz Routes as U.S. and Iran Clash Over Strait Control
Updated
Updated · Fortune · Jul 11
Oman Proposes 2 Hormuz Routes as U.S. and Iran Clash Over Strait Control
3 articles · Updated · Fortune · Jul 11
Summary
Oman drafted a two-corridor plan for the Strait of Hormuz, with free navigation through Omani waters and an Iranian-controlled northern lane requiring Tehran’s prior approval.
The proposal emerged after Iran again declared the strait closed on Saturday and said it struck a ship on an “unauthorized route,” while the U.S. bombed Iranian sites tied to drone and missile attacks.
That leaves a ceasefire-era stalemate: Washington escorts ships along an alternate route near Oman, but Iran still attacks traffic and refuses to drop its claim that all crossings need its consent.
Iran’s foreign minister met his Omani counterpart in Muscat on Saturday, and Oman said both sides agreed to keep technical and political talks going on safe passage.
Even if a corridor is declared open, shipping firms and insurers must judge it safe enough to use; until traffic normalizes, oil markets remain under pressure and a new U.S.-Iran deal may be needed within 1-2 months.
A two-corridor solution could reopen the strait. But who will insure the ships when both sides keep firing?
With Iran demanding crypto for passage and China complying, is the era of the petrodollar quietly ending in Hormuz?
Iran's cheap drones and speedboats have trapped 1,500 ships. Has asymmetric warfare checkmated the world's most powerful navy?
Strait of Hormuz 2026: $100 Billion Control Battle, Oil Supply Collapse, and Global Trade Fallout
Overview
As of July 2026, the Strait of Hormuz faces major disruption due to renewed attacks, with Iran targeting nonmilitary ships and the U.S. responding with strikes approved by President Trump during a NATO summit. These ongoing strikes and counter-strikes have triggered global energy security concerns, as both the U.S. and Iran seek greater leverage amid their own domestic challenges. The situation remains volatile, with the potential for a new deal uncertain, and the immediate impact is felt worldwide through disrupted shipping, rising prices, and heightened risks to global supply chains.