Hormuz Needs a Community, Not a Condominium
Iran and Oman have agreed on a temporary seven-mile-wide transit corridor through the Strait of Hormuz, with inbound traffic routed through Iranian territorial waters, outbound traffic through Iranian and Omani waters, and warships excluded. The framework being negotiated would establish a condominium arrangement giving Tehran and Muscat joint authority over passage, and the Persian Gulf Strait Authority has reportedly floated charges of up to $2 million per vessel.
Why it matters: This bears on energy security because the proposed bilateral condominium would leave the threat of Iranian maritime interdiction intact and exclude other Gulf states with major stakes in the waterway.