Iran and Oman have advanced talks on designated safe navigation routes through the Strait of Hormuz, with Iranian officials announcing agreement on geographic coordinates and notification mechanisms in early October 2026. However, Tehran continues to condition any substantial easing of restrictions or full reopening on the United States lifting its naval blockade of Iranian ports, waiving oil sanctions, and releasing frozen assets—conditions the US has not met following the collapse of the June Islamabad memorandum. Traffic through the strait remains severely restricted at roughly 10 percent of pre-crisis levels, with Iran asserting permit requirements and the US maintaining enforcement. Recent regional consultations, including a planned GCC meeting, collapsed over concerns that the Iran-Oman framework would grant Tehran undue control, reinforcing trader expectations that the blockade will persist ahead of any finalized bilateral accord.