Iranian Foreign Minister Abbas Araghchi (2nd L), Iranian parliament speaker Mohammad Bagher Ghalibaf (2nd R), and Omani Foreign Minister Badr bin Hamad Al Busaidi (R) walk inside a building in Muscat, Oman, on June 22, 2026.
Hamed Malekpour | AFP | Getty Images
The U.S. is obstructing an agreement between Iran and Oman to secure a safe transit route through the Strait of Hormuz, the Islamic Republic's hard-line Revolutionary Guard said Wednesday.
Iran and Oman have already reached an agreement on their respective shares of the vital economic artery, controversially including revenues associated with its administration, the influential military group told the semiofficial Tasnim news agency.
The Revolutionary Guard said the strait would remain closed if the U.S. does not accept Iran's conditions.
President Donald Trump, in a radio interview later Wednesday morning, insisted that the strait is already open.
"We take a lot of ships through the strait now. We're taking them in," Trump told conservative radio host Glenn Beck.
"Every once in a while there'll be a drone or a rocket or something shot, but it is a very functioning strait. A lot of oil is pouring out," the president said.
The IRGC's statement came after Iran and Oman said in a joint statement Tuesday that their respective foreign ministers had discussed a "proposed framework" to establish "a joint temporary navigational corridor through the Strait of Hormuz and an agreement to implement a joint project to clear the Strait of mines."
Trump has recently claimed that the U.S. and Iran are engaged in behind-the-scenes negotiations, even as Tehran has denied any such talks are taking place. Last week, however, Trump said the parties were done talking and had no plans to resume communications.
In an interview with Al Jazeera on Wednesday, Trump said he's in no hurry to restart negotiations with Iran.
"I have no time schedule, none. I'm not in a hurry. I have no time schedule at all," Trump said when asked how much time he was giving Iran to return to talks.
Trump also told Al Jazeera that he thinks economic measures and military operations against Iran "are both effective."
Two days earlier, Treasury Secretary Scott Bessent announced a plan to economically isolate Iran by threatening to slap secondary sanctions on the Islamic Republic's "enablers." Those sanctions, unveiled nearly six months into the war, have yet to be imposed.
Oil prices have extended recent losses in response to the statement, with international benchmark Brent crude falling below the $90 per barrel mark overnight.
Just five commodity vessels transited the Strait of Hormuz on Tuesday, below the 10-day average of 15, according to preliminary data from Kpler. Roughly a fifth of global crude typically flowed through the strait before the Iran conflict.
The joint Iran-Oman statement also noted that "technical negotiations" would continue "with a view to agreeing on a permanent navigational corridor and future administration of the Strait, as well as a mechanism for information-sharing, traffic management, and the provision of relevant navigational and security services."
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Oil prices have fallen sharply this week.
Contributing to pressure on oil prices in recent days, the U.S. has reportedly started returning its diplomats to Gulf states – suggesting Washington does not currently expect military escalation. Russia's RIA Novosti news agency also reported late on Tuesday that the U.S. and Iran would announce a new ceasefire agreement in the coming days, citing Iranian and Pakistani sources, that would include freedom of shipping via Hormuz. However, this could not be independently verified, and the White House did not respond to MS NOW's request for comment.
U.S. holds back on secondary sanctions
It comes after Bessent's pledge on Monday to launch an "economic D-day" on the Iranian regime, threatening to target Tehran's "enablers" and trading partners in efforts to strangle its economy. This included a list of 60 individuals, entities and vessels.
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However, the U.S. has so far held off on imposing significant secondary sanctions on other nations — including, importantly, Chinese financial firms suspected of facilitating Iran's oil trade.
"Why would I want to blow up the global financial system? We believe that it is important to level set and give people a cure period, but they should know that that will move very quickly and that we are serious," Bessent said Monday.
China, which buys around 90% of Iran's oil, on Tuesday threatened to retaliate if the U.S. opted to expand economic pressure on nations trading with Tehran.
Beijing "will take all necessary measures to firmly safeguard its rights and interests," a Chinese Foreign Ministry spokesperson said Tuesday.
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