Iranian Foreign Minister Abbas Araghchi held separate phone calls with his Omani and Saudi counterparts, stressing the need to strengthen cooperation and advance joint diplomatic efforts to promote stability in the region and address tensions in the Strait of Hormuz.
According to a statement from Iran's Foreign Ministry, Araghchi discussed the latest bilateral and regional developments with Oman's Foreign Minister Badr al-Busaidi and Saudi Foreign Minister Faisal bin Farhan.
The Iranian foreign minister emphasized the importance of enhancing cooperation and pursuing joint diplomatic efforts to establish stability in the region and end the instability affecting the Strait of Hormuz as a result of US aggressive actions.
In a related development, Reuters cited a source as saying that Oman had presented Iran with a proposal for a joint regional mechanism to manage the Strait of Hormuz through voluntary fees. The source said the Omani proposal has received regional support.
Two days earlier, Iranian Foreign Ministry spokesperson Esmaeil Baghaei said Iranian and Omani officials had held talks in Tehran on the Strait of Hormuz. He said the discussions were fruitful, adding that technical and political consultations between the two sides were still ongoing.
The developments come as US attacks on areas, facilities and infrastructure in Iran have reportedly halted after several consecutive days, while the Strait of Hormuz remains closed. Washington has reportedly urged ships to cross through illegal routes, potentially exposing vessels to accidents or forcing them to turn back.
Iranian Deputy Foreign Minister Kazem Gharibabadi also said that during the "Oman negotiations," the US insisted on keeping the southern passage of the Strait of Hormuz open. Iran, however, rejected the demand and remained committed to its established principles.
Meanwhile, oil prices extended their losses on Tuesday, falling by more than $1 per barrel after the United States paused its war on Iran, reducing immediate fears of disruptions to global oil supplies while the war continues.
Brent crude futures fell $1.47, or 1.66%, to $86.89 per barrel by 03:26 GMT, their lowest level since July 20. US West Texas Intermediate (WTI) crude dropped $1.45, or 1.76%, to $81.16 per barrel, also marking its lowest level since July 20.
Both benchmark contracts had already declined by around 8% in the previous session after Washington unexpectedly suspended its airstrike campaign against Iran over the weekend.