Ekhbary News Agency | May 15, 2024
A limited number of vessels are now permitted to transit the Strait of Hormuz daily, an Iranian military source informed Fars News Agency on Tuesday, with coordination from the Revolutionary Guard Navy. This development hints at a cautious de-escalation, but underlying tensions persist. US President Donald Trump, for what it's worth, boasted about significant oil shipments flowing since Monday, attributing this to advancements in negotiations between Washington and Tehran.
Navigational Adjustments and Sanctions Relief
The precise number of authorized vessels varies daily based on prevailing conditions. This follows a period where, according to the same source, the strait was closed, and permits were halted due to "hostile actions by Israel and alleged US violations of the ceasefire agreement." Ship tracking data confirms that Iranian-linked tankers continued using the vital waterway, with transit activity notably rebounding on Monday as talks progressed. President Trump confirmed his approval to keep the Strait of Hormuz open without additional naval blockades, noting over 19 million barrels of oil flowed through the passage on Monday alone.
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Regional Accords and Future Governance
The initial round of talks concluded Monday, just one day after commencing, with both parties agreeing on a roadmap for a permanent deal within 60 days. The United States also announced sanctions waivers until August 21st, easing global oil and LNG supply concerns and driving down prices. Oman and Iran jointly reassured global markets, issuing a statement reaffirming their commitment to maintaining the Strait of Hormuz as a safe and open international waterway. They underscored the importance of continued cooperation to enhance maritime safety, freedom of navigation, and regional stability. Furthermore, the two littoral states emphasized their sovereign rights over territorial waters in the strait. Discussions also covered strait-related issues under the "Islamabad" MoU, with both sides agreeing to further dialogue through a joint working group on future navigation management and associated services.
