Source: Oman Proposes New Mechanism for Joint Management of the Strait of Hormuz

Golden Finance reported on July 29 that a Gulf region source disclosed on July 28 that Oman has proposed a regional mechanism to Iran for the joint management of shipping through the Strait of Hormuz. Ships passing through the strait could make voluntary contributions under this mechanism. Currently, neither Oman nor Iran has officially confirmed this news. The unnamed source told Reuters that the new mechanism is modeled after the management approach of the Strait of Malacca, where users voluntarily contribute to a fund dedicated to maintaining the waterway, environmental protection, and search-and-rescue operations. Oman’s latest proposal has garnered support from some regional countries. It remains unclear how Iran will respond to this proposal. (Xinhua News Agency)