Iran, Oman agree to share Strait of Hormuz revenue

Iran said it reached a revenue-sharing agreement with Oman on the Strait of Hormuz, as the two sides push for a wider deal on the management of the crucial waterway, Report informs referring to Bloomberg.

"Agreements have been reached regarding each country's share of the strait's waters as well as Iran and Oman's share of its revenues," the Islamic Revolutionary Guard Corps said on Wednesday, according to the state-run Sepah News agency.

"We have reached results that are acceptable to both sides," he added.

The countries' foreign ministries issued a joint statement on Tuesday saying that they discussed an "interim framework" aimed at resuming shipping through the waterway, but stopped short of announcing a final deal and didn't mention fees.