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Could a US-Iran deal over Hormuz reshape global shipping and the rules of international trade?
LONDON: Negotiations are now underway between the US, Iran, and Oman to reopen the Strait of Hormuz, and while the agreement’s precise shape remains unknown, it seems at least one side will land responsibility for managing what has, until now, been an international waterway. From a legal and practical perspective, any such deal raises huge questions, not least what it means for the continuity of international law, what it means for other trading chokepoints, and what it means for the inflationary pressures heaping themselves on world economies.
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saudigazette.com.sa
Iran and Oman near deal to reopen Strait of Hormuz: NYT
Iran and Oman are close to reaching an agreement to restore commercial maritime traffic through the Strait of Hormuz, The New York Times reported, citing Iranian and US officials.
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jpost.com
Iran aims to secure control over formerly int'l waters in new Hormuz deal | The Jerusalem Post
This would give Iran control over areas that were international waters before the war, officials told the NYT.
