A framework agreement aims to ensure safe passage for commercial vessels in the Strait of Hormuz following 18-hour negotiations.
Iran reached a breakthrough agreement on a maritime security mechanism for the Strait of Hormuz after 18 hours of mediated talks in Switzerland. The deal establishes a formal transit framework to guarantee safe passage for commercial vessels through the critical waterway, according to official statements.
The negotiations, facilitated by Qatar and Pakistan, mark the first concrete progress in regional peace efforts. Technical teams will remain to finalize details ahead of a formal pact. The Strait of Hormuz handles roughly one-fifth of global oil shipments, making security a key market concern.
No immediate market reaction was reported, but the agreement could ease geopolitical tensions affecting energy supply routes.