Iran and Oman, the two littoral states bordering the Strait of Hormuz, have advanced negotiations on a joint management framework since signing an initial accord in June 2026 under the Islamabad Memorandum linked to the U.S.-Iran interim deal. They established a foreign ministry working group and held the first Joint Hormuz Committee meeting in Muscat that month, followed by August talks in Tehran that produced a phased plan for a temporary navigational corridor, mine clearance, and traffic services. Technical discussions continue on permanent arrangements, revenue sharing, information exchange, and security protocols, with planned consultations involving other Gulf coastal states. Full implementation remains tied to broader U.S. commitments on sanctions and access, while traders monitor whether a binding bilateral agreement emerges before year-end deadlines amid ongoing diplomatic exchanges.