Iran is reviewing a preliminary bill to manage the Strait of Hormuz that aims to ban U.S. and Israeli vessels from transiting the Strait of Hormuz, semi-official Fars news agency reported on Thursday.
The report, citing Alireza Salimi, a member of the presiding board of the Iranian parliament, said that the Iranian parliament's national security and foreign policy committee is reviewing the preliminary draft of the Strategic Action for the Security and Sustainable Development of the Strait of Hormuz and the Persian Gulf.
Under the draft, U.S. and Israeli vessels will be prohibited from transiting the Strait of Hormuz; military and civilian cargo related to Israel will not be permitted to pass through the area; and ships or cargo involved in operations against the "Resistance Front" will also be prohibited from transiting the strait.
Those who violate the relevant regulations may be subject to penalties, including fines of up to 20 percent of the value of the goods.
The Iranian parliament has now invited relevant experts to offer their opinions and suggestions in order to further refine the proposal.
Meanwhile, Iran and Oman have reached an understanding on the outlines of an agreement to reopen the Strait of Hormuz for 60 days, Saudi-based Al Hadath news channel and Al Arabiya news channel reported Thursday, both citing high-ranking sources.
The sources said the agreement, which still needs approval by Iran's Supreme National Security Council and could be announced within days, aims to resume navigation in the waterway.
Vessels entering the strait will use a route close to Iran, while those leaving will take one close to Oman. No transit fees or service charges will be imposed, and regional parties may participate in demining and technical procedures, the sources said.
Following the agreement's approval, the United States and Iran will return to their peace memorandum of understanding (MoU) and activate Paragraph 5 concerning the reopening and safe navigation of commercial shipping through the strait, the sources said.
Indirect contacts between Iran and the United States remain through mediators and have entered their final stage, the sources added.
U.S. President Donald Trump said on Thursday that a deal has not yet been reached with Iran to reopen the Strait of Hormuz but the strait is "sort of open right now."
He added that the U.S. is involved in the negotiations and a lot of progress has been made.
Iran tightened its grip on the strait on Feb 28, barring safe passage of vessels belonging to or affiliated with Israel and the United States following their joint strikes on Iranian territory.
In June, Iran and the United States signed the MoU on ending the war on all fronts, including Lebanon. The two sides were scheduled to hold negotiations within a 60-day period to reach a final agreement, but recent escalation in the region has left the talks' fate uncertain.
