Iran reviews Hormuz bill as reopening talks advance

By GT24x7 Correspondents · 7 August 2026 · GlobalToday24x7

Iran is reviewing a preliminary bill to manage the Strait of Hormuz.

Under the draft, U.S. and Israeli vessels will be prohibited from transiting the Strait of Hormuz; military and civilian cargo related to Israel will not be permitted to pass through the area.

Those who violate the relevant regulations may be subject to penalties, including fines of up to 20% of the value of the goods.

The Iranian parliament has now invited relevant experts to offer their opinions and suggestions in order to further refine the proposal.

Meanwhile, Iran and Oman have reached an understanding on the outlines of an agreement to reopen the Strait of Hormuz for 60 days.

The agreement still needs approval by Iran's Supreme National Security Council and could be announced within days, aiming to resume navigation in the waterway.

Vessels entering the strait will use a route close to Iran, while those leaving will take one close to Oman. No transit fees or service charges will be imposed, and regional parties may participate in demining and technical procedures.

Indirect contacts between Iran and the United States remain through mediators and have entered their final stage. U.S. President Donald Trump said on August 6 that a deal has not yet been reached with Iran to reopen the Strait of Hormuz but the strait is "sort of open right now." He added that the U.S. is involved in the negotiations and a lot of progress has been made.