Iran and Oman are still working on the details ​of an agreement on the Strait of Hormuz, a senior Iranian source said on Wednesday, after Iran's Revolutionary Guards said the two countries had agreed how to share the ‌waterway and its revenues. The elite force's spokesperson, echoing Tehran's official stance, also said the strait would not open unless the US met Tehran's conditions under an interim ceasefire agreement that was struck in June before unravelling. Those conditions include an end to the US blockade on Iranian ports, compensation and removal of sanctions. Iran and Oman have held on-and-off talks for weeks about controlling traffic through the strait, which handled one-fifth of global oil and liquefied natural gas shipments before the war began in February. Most shipping ​has since been shut down, driving global energy prices higher, as Tehran and Washington have tried to assert control over the channel, imposing separate blockades. Iranian source says no final agreement reached on Strait "An agreement with Oman over the Strait of Hormuz has not been finalised," the senior Iranian source told Reuters, adding that the talks were continuing on ⁠the details of an accord. A spokesperson for Iran's Islamic Revolutionary Guard Corps (IRGC) said Iran and Oman had reached an agreement on their shares of the territory and revenues. "The Strait of Hormuz belongs to Iran ​and the country of Oman... We have been in negotiations with Oman for about a month, and we have reached results that are acceptable to both sides," Hossein Mohebbi said in comments published by Iranian state ​media. "In these negotiations, agreements have been reached regarding the share of each country in the waters of the Strait and the share of Iran and Oman in its revenues," he added. It was not immediately clear at what stage of the negotiations the agreements had been reached. Iran had said earlier this month that a deal on the strait was close. Following talks on Tuesday between Iran and Oman, Omani Foreign Minister Badr Albusaidi said he was "hopeful we will soon announce a temporary corridor for ​the Strait of Hormuz and practical arrangements to restore safe navigation". US President Donald Trump has warned Oman against cooperating with Iran, telling Fox News on August 17: "If Oman gets in the way, we'll bomb the shit ​out of them." The IRGC accused the United States of seeking to obstruct Iran's negotiations with Oman and said this had caused an agreement to be delayed. "If the United States stops obstructing and returns to the agreement, we can open ‌the Strait ⁠of Hormuz within the framework of the agreement reached ... If the United States does not accept our conditions, the Strait of Hormuz will not be opened under any circumstances," Mohebbi said. Attacks on shipping Though active hostilities between the US and Iran have largely subsided in recent weeks, diplomatic efforts to reach a peace deal have stalled, and continuing attacks on ships mean passage through the Strait of Hormuz remains perilous. Iran announced a blacklist on Sunday of 45 ships in an apparent effort to stop ship-to-ship transfers used by Gulf energy producers to evade the Iranian blockade. Some companies plan to stop using vessels added to the blacklist, sources said. In an effort to ​tighten pressure on Iran's economy, the United States ​has threatened to punish countries that continue to do ⁠business with Iran, but said it would not impose penalties immediately. The sanctions did not feature Chinese financial institutions suspected of facilitating oil exports from Iran that the US blockade has cut. Iran denounced the US effort to isolate its economy as an act of "gross lawlessness", expressing confidence that many countries would not join the ​pressure campaign. Oil prices fell for a third day, dropping more than 1.5%, following signs of renewed efforts to seek a mediated end to the war that began on ​February 28 with US and ⁠Israeli strikes on Iran. US reportedly not planning new strikes for now Secretary of State Marco Rubio told allies that the US did not expect to launch new strikes against Iran for now, and would instead focus on other means of pressure, Axios reported on Tuesday. US public approval of the war has fallen to its lowest level since the conflict's early days, and Trump's popularity is likewise at a record low ahead of congressional elections in November, according ⁠to Reuters/Ipsos polling. Thousands of ​people have died in the conflict, most of them in Iran and Lebanon, while the US and Israel have degraded much ​of Iran's conventional military capacity. The exact state of its nuclear program, which the US and Israel aim to dismantle, remains unknown. Iranian army spokesman Brigadier General Mohammad Akrami-Nia said new equipment had been delivered to combat units and fighting against two technologically advanced militaries ​had provided Iran's forces with significant battlefield experience, according to comments carried on Wednesday by Iran's Mehr News. US cannot achieve its goals through economic pressure: Iranian president Earlier, Iranian President Masoud Pezeshkian said the United States could not achieve its objectives through economic pressure on Tehran, days after Washington launched a sweeping new sanctions campaign against Iran. Pezeshkian made the remarks during a three-hour meeting at the Central Bank of Iran in Tehran with Economy Minister Ali Madanizadeh, Central Bank Governor Abdolnaser Hemmati and a group of economists, according to the Iranian presidency. The meeting reviewed Iran’s monetary, foreign exchange and financial indicators amid what Pezeshkian described as conditions created by war, an economic blockade and external pressure. He stressed the need to maintain economic stability and contain inflation expectations. Pezeshkian said managing key markets, particularly currency and monetary markets, required close coordination between the government, Central Bank and other economic institutions. “Our approach is understanding and resolving issues through interaction and negotiation, but at the same time, we have stood and will continue to stand firmly against economic pressure,” Pezeshkian said. He said the US failed to achieve its objectives during the war because of the resistance of Iran’s armed forces and public support. Pezeshkian argued that Washington would similarly “gain nothing” from economic pressure. 'Possible future war' with US could spread across region, target energy infrastructure: Iranian army "A possible future war" with the US could spread across the region and bring energy and communications infrastructure into the conflict, an Iranian army spokesman warned on Wednesday. Brigadier General Mohammad Akraminia told the semi-official Mehr News Agency that Iran had previously warned that any “miscalculation” by its adversaries would draw an immediate response and could expand the geographical scope of the conflict. “A possible future war could encompass new arenas,” Akraminia said. He pointed to the Bab al-Mandab Strait and a US base in Syria, saying both had become part of the conflict despite previously being outside its geographical scope. “Today, threats exist across the entire region, and we have the capabilities to confront and deal with them,” he said. Akraminia said a possible future war could also involve new areas of confrontation, including energy and communications infrastructure across the region. He specifically cited energy infrastructure and communications links that largely run along the seabed in waters off Iran and the Arabian Peninsula and through the Gulf of Oman. “Wherever the enemy has interests, in the event of aggression, they could fall within the framework of legitimate targets of the armed forces of the Islamic Republic of Iran,” he said. Akraminia also urged Qatar to step up efforts to determine the fate of three Iranian pilots missing since an Iranian air operation against a US base in Qatar on March 2. He said two Iranian Sukhoi aircraft struck the base before being shot down on their return flight. The body of one of the four pilots, Majid Kazemi, was later recovered, while the other three remain missing. Qatar has denied holding the three pilots, saying its search-and-rescue teams recovered the remains of one pilot but found no evidence that the others were captured. Iran cannot use Strait of Hormuz as 'leverage' against global economy: US treasury secretary US Treasury Scott Bessent said in a call with Bahrain's Minister of Finance and National Economy Sheikh Salman bin Khalifa that Iran "must not be permitted to threaten international commerce or use the Strait of Hormuz as leverage against the global economy”, according to a post on X from the US Treasury Department. .@SecScottBessent spoke today with Bahrain’s Minister of Finance and National Economy, H.E. Shaikh Salman bin Khalifa Al Khalifa, to discuss Operation Economic Outcast. Secretary Bessent stressed that Iran must not be permitted to threaten international commerce or use the… — Treasury Department (@USTreasury) August 26, 2026 According to the post, he emphasised the importance of sustained financial pressure on Iran’s remaining economic lifelines, adding that the US will "hold the regime’s financial enablers accountable." He welcomed Bahrain's " longstanding partnership and its continued commitment to safeguarding the integrity of the international financial system." Iran says Hormuz transit route with Oman will be 7 miles wide Iran has agreed with Oman to establish a temporary seven-mile-wide transit route through the Strait of Hormuz, Iranian Deputy Foreign Minister Kazem Gharibabadi said on Tuesday, while stressing that the arrangement does not amount to reopening the strategic waterway. Speaking in an interview with Iranian television, Gharibabadi said the agreed route would run through Iranian territorial waters on entry, with part of the exit route also passing through Iranian waters. “The agreed-upon width of the transit route with Oman in the Strait of Hormuz is seven miles,” Gharibabadi said, describing the route as a temporary arrangement. He said Iran and Oman would hold further negotiations, which are expected to last between 30 and 60 days, to determine a permanent route and future arrangements for managing passage through the strait. Gharibabadi emphasised that the agreement with Oman should not be interpreted as the reopening of the Strait of Hormuz. “The Strait of Hormuz is closed, and we have complete control over it,” he said, dismissing claims that ships were already passing through the waterway. According to Gharibabadi, activating the joint route agreed with Oman would also mean closing the southern passage. He said the two countries had agreed to begin technical negotiations on an alternative to the historical route. Gharibabadi said Iran considered the strait a matter of national security and had the right to take measures it deemed necessary to protect its interests. The official also said Iran did not trust Washington and that any return to diplomacy would require the United States to first fulfill its commitments under the Islamabad Memorandum of Understanding. Read: Iran, Oman mull proposal for joint shipping route through Hormuz Strait "Before any action to reopen the Strait of Hormuz, the US must fully implement all of its violated commitments," he said. "The reopening of the Strait of Hormuz will only take place in exchange for an end to the war on all fronts, the lifting of the blockade, and a resolution of Yemen's status." Gharibabadi said Pakistani Army Chief Field Marshal Asim Munir had conveyed the same message during his recent visit to Tehran, telling Iranian officials that reopening the strait depended on Washington fulfilling its commitments. 'No one except Iran knows the location of these mines' Gharibabadi also rejected reports that US forces had cleared mines in the waterway or were preparing to send mine-sweeping vessels into the area. “If the United States claims that the mines have been completely cleared, why doesn't a US ship pass through?” he said. “If they have cleared them, why don't they pass? No one except Iran knows the location of these mines.” He warned that US mine-sweeping vessels entering the area would be considered targets. “If US mine-sweepers enter the region, they will become targets for us,” Gharibabadi said, adding that US President Donald Trump’s comments about mine clearance were intended only to calm markets. Earlier, Trump said that all mines have been successfully removed or detonated in the international waters of the Strait of Hormuz. “Iran has been notified that any ship or boat placing new mines will be immediately and systematically destroyed,” he wrote on his social media platform Truth Social. Egypt stresses importance of implementing US-Iran memorandum, de-escalation Egypt on Tuesday stressed the importance of implementing the US-Iran memorandum of understanding and working to de-escalate tensions in the region, according to the Egyptian Foreign Ministry. The issue was discussed during a phone call between Egyptian Foreign Minister Badr Abdelatty and US Special Envoy to the Middle East Steve Witkoff, a ministry statement said. The call focused on regional developments and efforts to contain tensions and reduce escalation, according to the statement. Abdelatty stressed the importance of upholding the US-Iran memorandum and implementing the understandings it contains. He described the agreement as a constructive step toward easing tensions and strengthening security and stability in the Middle East. Abdelatty also called for intensified regional and international efforts to de-escalate tensions and prevent the conflict from spreading. He emphasised the need to prioritise political and diplomatic solutions and use dialogue to address the region’s crises, the ministry said. The two officials also discussed the security and freedom of navigation along international waterways. Abdelatty stressed the need to ensure safe and unrestricted navigation, prevent disruption to shipping and uphold relevant international law. He underscored the importance of freedom of navigation to global trade, supply chains and energy security, as well as shielding international waterways from the impact of regional tensions and escalation. Rubio says US not expected to launch new Iran strikes: Axios Secretary of State Marco Rubio has told several foreign ministers from allied countries in recent days that "for the time being" the United States is not expected to launch new strikes against Iran, and will instead focus on other means of pressure, Axios reported on Tuesday, citing a US official and a second source with knowledge of the matter.