US and say a Strait of Hormuz deal is close

CAIRO (AP) — Iran said Wednesday it is in the “final stage” of drafting an agreement with Oman over the Strait of Hormuz, and U.S. President Donald Trump has said a deal could be announced this week. That could potentially reopen the critical waterway, ease pressure on the world economy and help bring an end to the war.

But the agreement may be contingent on the U.S. lifting its blockade on Iran’s ports. The Trump administration has previously ruled out any deal that would cement Iran’s grip over the strait, which would amount to a major loss for the U.S. and a break with global norms.

Iran has insisted on some measure of control over the strait, saying it will not go back to being an open international waterway, as it was before the war.

The U.S., along with Israel, launched the war on Feb. 28, citing goals including toppling Tehran’s government and ending its nuclear program.

Regional officials tell AP negotiators have finalized a draft

Iranian and Omani negotiators have finalized the draft deal to reopen the strait and await final approval from Iran’s Supreme Leader Ayatollah Mojtaba Khamenei, two regional officials told The Associated Press on Wednesday. Khamenei is believed to have been wounded in the war’s opening strikes and has not been seen in public since then.

The officials, who were briefed on the negotiations, portrayed the potential deal as a temporary solution to the dispute over the strait. They said it is tied to an agreement reached between the U.S. and Iran in June that aimed at ending the fighting and reopening the waterway but ultimately collapsed.

The officials, who spoke on condition of anonymity to discuss the private talks, said the potential deal will pave the way for the U.S. and Iran to resume negotiations on Tehran’s nuclear program.

Earlier, they had said the potential agreement would have ships enter the Persian Gulf through an Iranian-controlled route and exit through a route controlled by Oman. Service fees would be charged for providing security and preserving the maritime environment, the officials said.

The U.S. has said it is strongly opposed to any arrangement that would see Iran charge fees.

Trump said a deal to reopen the strait is close

Trump was asked on Tuesday evening by reporters about a report on the Axios news site that an announcement on the strait could be made on Wednesday.

“It could happen. Tomorrow or the next day,” Trump said. “A lot of progress has been made.”

Vice President JD Vance acknowledged Wednesday that it can seem like the U.S. is not making progress in Iran, describing the effort to end the war as “messy” and that “it’s going to take some time”

Vance said in an interview that aired in the evening on Fox News Channel that the Iranians are “extraordinarily difficult people” and that efforts to try to resolve the war sometimes require moving backward before moving forward.

Also on Wednesday, oil prices initially eased but later inched up. Brent crude, the international standard, was around $80 per barrel — still well below the levels it hit at the height of the conflict.

In recent days, Trump has alternately threatened massive strikes and voiced support for diplomatic efforts.

PHOTO- FILE – Cargo ships are seen at sea near the Strait of Hormuz, as viewed from a rocky shoreline near Khor Fakkan, United Arab Emirates, Friday, May 1, 2026. (AP Photo/Fatima Shbair, File)