RIYADH, Saudi Arabia — Oman has presented a proposal to Iran for a joint regional mechanism to manage the Strait of Hormuz with voluntary fees, a Gulf source told Reuters on Tuesday.

Under the Omani proposal, which has regional backing, Iran would not exercise sole control of the vital waterway, the source added.

The proposal is based on the Strait of Malacca, between the Malay Peninsula and the Indonesian island of Sumatra, where those who use the strait voluntarily contribute to fund navigation, environmental protection and search and rescue.

The US abruptly suspended a ‌campaign of airstrikes against Iran over the weekend, raising hopes of a diplomatic solution that would allow shipping to resume in the Strait of Hormuz — which carried a fifth of global energy supplies before the conflict began.

The US military on Saturday said its recently reimposed naval blockade against Iran continued, with a dozen commercial ships redirected, two disabled and two boarded. US forces “remain highly vigilant, focused, lethal, and ready,” it added.

US President Donald Trump said on Monday the United States was having “good ‌talks” with Iran, and there was a chance of a deal, but he warned that US strikes would resume if the........

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