Iran and Oman have been engaged in talks for days to reach a deal on the Strait of Hormuz, aiming to resume shipping movements battered by the months-long closure of the waterway.

The international community and global markets both are eyeing to “positive developments” regarding the strategically important Hormuz. But here is a catch.

According to Iran’s state broadcaster IRIB, any potential deal between Iran and Oman is likely to resolve the Hormuz crisis as the deal over future shipping arrangements will not lead to immediate reopening of Strait of Hormuz.

According to the source privy to the matter as reported by Al Jazeera, the negotiations on........

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