Iran and Gulf countries to hold talks on future of Strait of Hormuz

Foreign ministers of the six Gulf Cooperation Council member states may hold joint talks with Iran next week on the future of the Strait of Hormuz. Such a meeting would be the first between the foreign ministers of all GCC states and a high-ranking Iranian representative since the start of the current war.

Bloomberg and the Financial Times reported on the preparations for the talks.

The meeting is planned for Monday in the Omani city of Salalah. It was initiated by Oman, which together with Iran is trying to secure support from other regional countries for a temporary agreement on shipping through the Strait of Hormuz.

The Gulf Cooperation Council includes Saudi Arabia, the United Arab Emirates, Qatar, Kuwait, Bahrain and Oman.

According to the Financial Times, final details are still being finalized, but several states have confirmed participation and the talks are expected to take place.

Oman and Iran have already prepared a framework agreement

The talks are set to continue a separate dialogue between Oman and Iran on restoring safe shipping through the strait.

In late August, Oman's foreign ministry said the two sides had discussed a phased mechanism that includes establishing a joint temporary navigation corridor through the Strait of Hormuz and a joint demining project.

The next phase is supposed to be technical talks on a permanent navigation corridor, a future management mechanism for the strait, information exchange, shipping control and provision of navigation and security services.

Oman and Iran separately stressed at the time that other regional countries should be involved in discussing the future system. The planned meeting with all GCC members effectively marks the implementation of this phase.

Gulf countries critical of any single state's control

One of the main issues remains the status of temporary arrangements and who will control shipping.

GCC countries insist on free and unimpeded passage through the Strait of Hormuz in accordance with international law. During a meeting with US officials in June, they opposed any transit fees and any attempts by a single state to control the strait.

Qatar has also stressed that Gulf states should be directly involved in shaping any long-term arrangement on Hormuz, rather than just accepting decisions produced by Iran, the US or other parties.

Iran itself insists on its key role in managing navigation as a littoral state and has previously linked the full reopening of the strait to broader agreements with the US.

Strait of Hormuz remains a major conflict flashpoint

Before the war, about 20 million barrels of oil and petroleum products passed through the Strait of Hormuz daily, as well as a significant share of global LNG exports. After the outbreak of hostilities and restrictions on navigation, flows dropped sharply.

Gulf countries are simultaneously trying to reduce dependence on the strait. The UAE, in particular, is accelerating development of pipelines, ports and overland logistics routes that allow exporting more oil and other cargo bypassing Hormuz.

At the same time, fully replacing this route in the short term is impossible. Qatar, one of the world's largest LNG exporters, explicitly says that the strait will continue to be critically important for global trade.

News of a possible meeting between Iran and GCC countries has already affected the oil market. On Friday, Brent fell by about 2.7% to around $104.7 per barrel as traders weighed prospects for diplomatic progress on resuming shipping through the strait.

However, even a temporary agreement on Hormuz does not mean the conflict is over. Full restoration of navigation remains tied to broader talks between the US and Iran, which have so far not yielded a final political settlement.

Sources: Bloomberg, Financial Times, The National