According to this and Reuters which is where this originated from it looks like Iran is about to get a deal which basically looks like they have won the strait. I'm sure there are more details to come and that its not as cut and dry as the news is framing it, so we shall see.
Here is the Reuters news story but I cant get it past the headline without paying and signing up.


Reuters News Story


[i] BREAKING: US to lift its blockade on Iran once a deal is announced between Iran and Oman over the Strait of Hormuz, adding that the US expects this deal very soon, a US official tells Reuters.

This is another major US concession to Iran, coming after Iran added the lifting of the US naval blockade as one of its 4 new demands earlier this week.

Under this deal however, Iran will still retain full sovereign control over the Strait, on both inbound traffic and supervision along Oman on outbound traffic, charge up to 7% fees on every ship's cargo, and ban US + Israeli + other "hostile" vessels.

3:01 PM · Aug 7, 2026
·
14.6K
Views

"Never Trust Government" -- Smart people.
"The Great thing we should Fear and the Weird Thing we Trust is Elon Musk" -- Me
"You can be broke but you cant be poor." -- Ruthie-May Webster