Iran and Oman Say They’ll Work on Pact for Hormuz Transit Costs

Iran and Oman have announced plans to collaborate on an agreement regarding the management of the Strait of Hormuz, particularly focusing on transit costs. This move comes amid concerns from traders and shipowners about potential tolls for navigating the strategic waterway. The initiative highlights the countries' commitment to ensuring safe passage and managing the economic implications of transit through one of the world's most critical maritime chokepoints. This cooperation could have significant implications for global trade and regional stability.