AGP Executive Report

Strait of Hormuz Crisis: President Donald Trump reinstated a US naval blockade targeting Iranian ports and said the US will act as “guardian” of Hormuz, demanding a 20% fee on cargo for “safe passage,” as tanker traffic fell to its lowest level in two months and shipping tracking showed more vessels going off public AIS. US-Iran Escalation: The US launched its third straight night of strikes on Iran, while Iran’s Revolutionary Guards claimed attacks on US-linked facilities across the Gulf, including radar systems in Oman. Diplomacy Under Strain: Iran’s foreign minister Abbas Araghchi rejected the US role, insisting Iran will remain the “guardian” and mocking the 20% charge as “too much,” as leaders including UK Prime Minister Keir Starmer urged unrestricted transit and an end to hostilities. Oman Angle: Oman condemned drone attacks targeting Musandam sites and continued talks with Iran on Hormuz traffic management amid the wider conflict. Local Life & Economy: GCC inflation stayed below 2% for a second year, while Oman’s Muscat Stock Exchange index fell 0.44% and the NCM forecast partly cloudy weather with a chance of fog. Sports: West Asia Men’s Volleyball Championship begins in Muscat with Oman facing Lebanon.

US-Iran Escalation: The US and Iran traded fresh strikes as the Strait of Hormuz dispute deepened, with Washington saying it hit about 140 Iranian targets to “degrade” attacks on shipping, while Tehran retaliated by targeting US facilities across the Gulf and claiming radar systems were destroyed in Oman. Oman in the Crosshairs: Iran’s Revolutionary Guards said it struck Oman, and Oman’s state media reported drone attacks in Musandam; Oman also said 23 crew members were rescued after a vessel incident off Musandam, while search continued for one missing sailor. Diplomacy on Life Support: Iran said it would not uphold the June MoU unless the US meets its commitments, but it is still talking with mediators including Qatar, Pakistan and Oman to prevent further escalation. UN Urges Talks: UN Secretary-General António Guterres warned of “catastrophic consequences” if fighting resumes and urged immediate de-escalation. Markets React: Oil prices jumped toward $80 a barrel amid renewed Hormuz uncertainty, while risk-off moves hit equities and crypto, with Ethereum slipping below $1,800. Local Economy: Oman-Hong Kong trade is set to grow beyond $200m, and Nama Water Services announced 303 new job opportunities in its water and sanitation Omanization programme.

Strait of Hormuz Crisis: The US and Iran traded fresh missile and drone strikes as Washington insisted the Strait of Hormuz is open for lawful shipping, while Tehran declared it closed “until further notice,” after an Iranian attack on a Cyprus-flagged container ship (GFS Galaxy) off Oman left it ablaze and with one crew member missing. Oman Response: Oman’s Maritime Security Centre said 23 crew members were rescued from the vessel off Musandam, with search continuing for the missing sailor, as India also condemned the attack and urged de-escalation. Regional Fallout: Iran’s retaliation reportedly hit Bahrain, Kuwait, Qatar, Jordan and Oman, while Kuwait said border posts and an offshore drilling platform were struck by a hostile drone, injuring one worker. Diplomacy Under Strain: UN Secretary-General António Guterres urged an immediate halt to escalating attacks, as talks aimed at stabilising the region appeared to slip further off track. Local Watch: Muscat Stock Exchange’s 30 index edged up 0.101% to close at 7,652.14 points.

Strait of Hormuz Crisis: Iran says the Strait of Hormuz is closed “until further notice” after a warning shot hit a vessel on an unauthorized route, while the US launched a third wave of strikes on Iran, hitting about 140 targets to degrade Tehran’s ability to attack commercial shipping. Oman in the spotlight: Oman hosted Iranian FM Abbas Araghchi for talks on safe navigation hours before the escalation, and Oman condemned an attack on its territory as drones hit Musandam. Shipping impact: A Cyprus-flagged container ship (GFS Galaxy) was damaged and set ablaze; 10 of 11 Indian nationals were rescued, with one missing, as search-and-rescue continues off Oman. Regional fallout: Gulf states including Kuwait, Qatar, Jordan, Egypt and the UAE condemned Iran’s attacks and activated air defences; Iran also claimed strikes on US-linked sites across the region, including in Oman’s Duqm. Diplomacy under strain: Iran and Oman agreed to continue consultations on Hormuz navigation, but the US-Iran exchange of fire threatens to derail any fragile deal.

Strait of Hormuz Diplomacy: Iran’s foreign minister Abbas Araghchi met Oman’s Badr Albusaidi in Muscat to discuss safe, unrestricted navigation as Washington presses for a public pledge that the strait is open and ships won’t be attacked. US-Iran Tensions: Trump declared the ceasefire over but said talks will continue, while Iran’s new supreme leader Mojtaba Khamenei vowed revenge after the killing of his father, raising fears the fragile diplomacy could snap. Oman’s Mediation Push: Oman and Iran agreed to keep technical and political talks going, with reports of proposals including toll-free passage on the Omani side and tighter controls on the Iranian side, plus ideas to open a “median lane.” International Law Signal: An IMO move rejecting Iran’s attempt to claim unilateral authority over Hormuz strengthens the Gulf states’ stance that transit passage is protected under international maritime rules. Regional Spillover: Qatar is also involved as a mediator, and the wider standoff is keeping global shipping and energy markets on edge.

Strait of Hormuz Diplomacy: Iran’s foreign minister Abbas Araghchi arrived in Muscat for talks with Oman as the US presses Tehran to publicly reopen the Strait of Hormuz and stop attacks on commercial shipping, with negotiations framed around “safe transit” mechanisms while a fragile ceasefire hangs in the balance. US-Iran Escalation: Washington says Iran privately admitted the shipping strikes were a “mistake,” but wants a public statement; Trump meanwhile ratcheted up threats, warning of “1,000 missiles” if Iran acts against him, as both sides trade strikes and blame “rogue” hardliners. Oman’s Role: Oman is again positioned as a key mediator, with Araghchi expected to meet Omani officials on bilateral ties and regional developments tied to maritime security. Trade Snapshot: Oman reported a trade surplus of OMR2.09bn by end-April 2026, supported by exports and a surge in re-exports. Local Watch: Oman’s Environment Authority warned against chasing or filming wildlife in Dhofar without permits, citing risks to animals and public safety.

Strait of Hormuz Diplomacy: The US is pressing Iran for a public guarantee that the Strait of Hormuz is open and that ships won’t be attacked, even as Washington says the June ceasefire is “OVER” while talks continue. Oman as a Key Mediator: Iran’s foreign minister, Abbas Araghchi, is set to visit Oman for Strait of Hormuz talks on shipping safety, with both sides pointing to different control arrangements for transit. Shipping Fallout: Traffic through Hormuz has plunged again, with insurers and operators raising risk costs; Iran is reportedly prioritising its own cargo while foreign vessels delay or reroute. Local Impact for Oman: Oman’s foreign ministry and officials are coordinating on maritime navigation and regional developments, including discussions with India’s Jaishankar on trade, logistics and Hormuz implications. Legal Pressure: Seafarers from a Thai ship attacked in March have filed a lawsuit over alleged labour rights violations and unsafe routing. UAE Incident: A drone attack sparked a fire at Fujairah’s oil industry zone, underlining how Gulf energy infrastructure remains vulnerable.

US-Iran Escalation and Hormuz Shock: The US and Iran traded strikes again after Trump said the interim ceasefire framework is “over,” with Hormuz shipping near a standstill and oil prices still set for weekly gains despite easing day-to-day. Oman’s Maritime Role: Oman reiterated its commitment to freedom of maritime navigation at the IMO Council and pushed for safe, uninterrupted shipping, as UK warnings flagged “deliberate hostile acts” risk in the strait. Diplomacy Under Strain: Mediators and regional calls for restraint continued even as Iran warned no “final deal” talks would start if US threats persist. Local Business and Energy Moves: Oman and Jordan launched a $100m joint investment company, while ADNOC Logistics ordered four LNG carriers and Asyad Shipping signed for six product tankers. Legal and Security Ripples: Thai crew members sued a shipping operator after a March Hormuz attack, and INTERPOL’s global anti-fraud sweep netted 5,811 arrests and $293m seized.

Strait of Hormuz Diplomacy: Oman issued its clearest position yet at the IMO, reiterating that transit passage is guaranteed under international law and opposing any transit fees, while Iran pushes for control and charges. US-Iran Escalation: The ceasefire is fraying fast as the US carries out new strikes and Iran retaliates, with Gulf states on missile alert and shipping disruptions worsening. Hormuz Shipping Shock: Tanker traffic through the strait is near a standstill, with only a handful of vessels transiting early on, as risk perception drives AIS shutdowns and rerouting. Oman’s Balancing Act: Oman’s efforts to keep navigation safe and uninterrupted are being tested by renewed attacks and competing demands over how the waterway should be managed. Regional Talks: Oman’s FM Sayyid Badr bin Hamad Al Busaidi held calls with Iran and other counterparts, urging de-escalation and safeguarding freedom of navigation. Global Crime Crackdown: INTERPOL’s Operation First Light netted 5,811 arrests and seized $293m across 97 countries, targeting social engineering scams. Logistics Response: DP World is adding 700 lorries to expand GCC road freight as alternative routes grow in importance amid Hormuz disruption.

Strait of Hormuz Escalation: The US carried out another round of strikes on Iran late Wednesday and early Thursday after Trump said the ceasefire was “over,” with explosions reported across Iranian port cities including Bandar Abbas, Sirik and Bushehr; Iran retaliated by targeting Bahrain, Kuwait and Qatar, while US officials said the aim was to curb Tehran’s ability to threaten navigation. Shipping Disruption: Reports say Hormuz traffic fell to near standstill, with some tankers turning back and a Qatari LNG vessel stuck off Oman awaiting salvage after a projectile strike. Oman in the Mix: Commentary and coverage highlight Oman’s role as a key maritime corridor and mediator, as well as the risk of tolls and route control reshaping regional trade. Local Watch: Dhofar Municipality took over completion of the long-delayed Sahl Hamran housing project in Salalah, with work on the remaining 240 units set to restart soon. Aviation & Tech: Oman’s DroneX summer programme trains Grades 9–11 in drone operations, maintenance and FPV design with WingTech, while Oman Air continues Khareef expansion with new Bahrain charter services.

Strait of Hormuz Flashpoint: President Donald Trump declared the US-Iran ceasefire “over” after Iranian attacks on ships, warning the US will likely strike again “hard tonight,” including threats to hit civilian infrastructure and seize Kharg Island. US Retaliation: US Central Command says it has launched another wave of strikes on Iran to “degrade” Tehran’s ability to threaten freedom of navigation, following Tuesday’s attacks on more than 80 Iranian targets. Iran’s Response: Iranian state media reported explosions in southern ports including Bandar Abbas and Sirik, with reports also pointing to activity near Bushehr and other coastal areas. Oman-Saudi Coordination: In Muscat, Oman’s and Saudi Arabia’s foreign ministers discussed regional developments and maritime security in the Strait of Hormuz, stressing de-escalation and freedom of navigation. Human Cost at Sea: The UN’s IMO warned nearly 6,000 seafarers remain stranded in the Gulf and urged maximum restraint to protect crews. Regional Investment Move: Oman and Jordan launched a $100m joint investment company to back sectors like telecom, energy, mining, tourism and logistics.

US-Iran Hormuz Escalation: The US launched “powerful” strikes on Iran after three merchant ships were hit in the Strait of Hormuz, revoking a temporary waiver for Iranian oil sales and pushing oil prices sharply higher; Trump said the Iran ceasefire/MoU is “over,” while Iran retaliated by targeting US bases in Bahrain and Kuwait, raising fresh fears that the fragile talks could collapse. Aviation Disruption: The EU aviation safety watchdog extended its advice to avoid Iran and Iraq airspace until Aug. 31, citing ongoing volatility and the risk of further military escalation. Oman Market Watch: Oman’s OMIFCO shares jumped nearly 20% on their Muscat Stock Exchange debut after a $678m IPO, with investors showing strong demand despite regional tensions. Oman Business & Energy: Minerals Development Oman (MDO) signed a partnership with Kazakhstan’s Solidcore Resources to explore and develop a copper-gold project in North Al Batinah, while OQ agreed to divest its stake in Majis Industrial Services. Local Life: Oman distributed more than 274,000 fruit and wild tree seedlings nationwide to boost food security and green cover.

Strait of Hormuz Crisis: The US revoked a licence allowing Iran to sell oil after three merchant ships were hit near Oman, then launched “powerful” strikes on Iranian targets, saying the action was retaliation for attacks on commercial vessels and a violation of the ceasefire; explosions were reported in southern Iran as maritime authorities warned of renewed disruption risk. Shipping Threat Escalates: UKMTO raised the Hormuz threat level to “severe” after an LNG tanker was struck and caught fire, with other tankers damaged; Qatar condemned the attack on its vessel and blamed Iran, while oil prices jumped on the renewed tensions. Diplomatic Push in the Gulf: India’s Jaishankar continued a Gulf tour, meeting Bahrain’s deputy PM and arriving in Kuwait to discuss trade, investment, energy security and regional developments, as NATO leaders prepared to address the wider crisis. Oman Business Note: United Solar closed a $50m equity deal tied to Oman’s polysilicon plant, adding to the week’s local economic headlines.

Strait of Hormuz Tensions: A tanker off Oman near Limah was hit by an “unknown projectile,” sparking a fire on its port side, with UKMTO saying there were no casualties or environmental damage and urging ships to transit with caution. Iran-US Talks on Ice: The attack comes as indirect US-Iran talks appear stalled around the funeral period for Iran’s late Supreme Leader Ayatollah Ali Khamenei, with Iran warning negotiations won’t move forward unless threats stop. Shipping Risk Spikes: Reports also say Iran’s Revolutionary Guards fired missiles at commercial vessels, raising fresh concerns for the fragile reopening of Hormuz traffic. Oman Response: Oman condemned terrorist plots targeting Morocco, reaffirming solidarity and rejection of extremism. Energy Markets: Oil and gas prices jumped after the strike, while OPEC+ approved a modest August production increase despite the recent price slide. Oman Business: United Solar completed $1.6bn funding for its Sohar polysilicon plant with IFC support.

Strait of Hormuz Watch: Shipping activity is slowly recovering, but insurers and operators still move cautiously; tracking shows nearly a third of vessels crossing the Strait of Hormuz chose the safer Omani coastline route over the weekend. Energy & Markets: OPEC+ agreed to raise August oil production by 188,000 barrels per day, while Saudi cut Asia oil prices; oil benchmarks settled near pre-Iran-war levels as exports through Hormuz improve. Oman Development: Dakhliyah secured about RO158mn in food security investment projects, and Oman’s Tender Board approved RO114mn+ in development works. Housing & Cities: Oman and Türkiye signed an MoU to boost cooperation in housing, urban planning and real estate investment. Renewables Push: Oman plans four 1 GW solar IPPs (2028-2029) plus 2 GW wind, alongside pumped-hydro storage to strengthen grid reliability. Maritime Governance: Oman joined the IMO Council session in London, reinforcing its role in maritime safety and navigation security. People & Skills: More than 100 newly qualified finance professionals joined Oman’s workforce through ACCA. Tech & Policy: Oman took part in the UN Global Dialogue on AI Governance in Geneva.

Oman Water Sector Upgrade: Nama Water Services (NWS) has awarded a major performance-based 15-year contract worth about RO 900 million with Suez and partners to run water and wastewater services for over 2.3 million people across Muscat and North/South Sharqiyah, including a programme to cut unaccounted-for water losses. Credit Milestone for OQEP: S&P Global Ratings assigned OQ Exploration & Production (OQEP) its inaugural global rating of ‘BBB-’ with a stable outlook, boosting investor confidence after the company’s Muscat listing. Oil Market Watch: OPEC+ has agreed to raise August output by 188,000 barrels per day, including Oman, as Gulf shipping through the Strait of Hormuz gradually recovers—though prices still react to ongoing uncertainty. Strait of Hormuz Tensions: Iran reiterated warnings against foreign military action in Hormuz and signalled it may charge “service fees,” while NATO allies are reportedly set to discuss security at an Ankara summit. Aviation & Connectivity: SalamAir reported 80.01% on-time performance in Q2 and added new airline partners via MOVE, including Oman Air, as regional travel networks keep expanding. Sports: Oman Cricket named Vinayak Shukla as captain, ahead of key ACC and ICC League 2 matches.