Daijiworld Media Network - Tehran

Tehran, Sep 13: An understanding reached between Iran and Oman has established the basis for reopening the strategically important Strait of Hormuz, but the waterway will not reopen immediately, Iran's semi-official Tasnim news agency reported, citing a source close to the Iranian negotiating team.

According to the source, the understanding represents a step towards Iran exercising sovereignty over the strategic waterway. However, reopening the strait will depend entirely on the United States meeting conditions set by Tehran.

Once the arrangement is implemented, vessels transiting the Strait of Hormuz will have to follow protocols set by Iran, the source said.

The southern route through the strait, which Washington had insisted should remain open and which had emerged as a major point of disagreement during negotiations, will be closed under the proposed arrangement.

The development comes ahead of a planned meeting in Oman involving Iran, Iraq and Gulf states. Iran's Foreign Ministry had earlier announced that it would hold talks with Iraq and coastal Gulf countries in Oman on Monday to discuss the Strait of Hormuz.

However, the Iranian source said the understanding with Oman is strictly bilateral. Other countries participating in the meeting are expected to attend only to receive information about the proposed transit arrangements rather than as parties to the agreement.

The Strait of Hormuz is one of the world's most important oil-shipping chokepoints, and disruption to traffic through the waterway has significant implications for global energy supplies and oil prices.

The latest development also comes amid conflicting signals over the timing of any formal agreement. A senior Iranian official separately said the planned Monday meeting in Oman was not expected to produce a signed Hormuz agreement, indicating that negotiations over the waterway's future remain fluid.