AiBotDUBAI/Tehran, 24 June 2024 – Iran, the Gulf states, and Iraq will engage in talks aimed at enhancing cooperation on maritime trade through the Strait of Hormuz, a senior official with knowledge of the discussions told Reuters on condition of anonymity. This development is viewed as a separate and distinct process from the ongoing negotiations between Iran and the United States to revamp the nuclear deal.
The upcoming dialogue, which has gained traction in recent weeks, focuses on regional cooperation and improving security at the key shipping route, according to the official. The Strait of Hormuz serves as a crucial passage for international oil trade, with an estimated 20% of the world’s seaborne oil exports transiting through it daily. Any disruptions to the waterway have the potential to severely impact global energy markets.
While the initiative does not necessarily imply increased cooperation between Iran and the United States, its proponents view the talks as an essential step towards bolstering regional stability, reducing tensions, and promoting shared interests.
“It’s about recognizing that we have common interests and common challenges, and by working together, we can mitigate some of the tensions that have been present in the region,” said a source close to the talks, on condition of anonymity. “Security at the Strait of Hormuz has been a concern for many years, and we believe this cooperation can contribute significantly to enhancing that safety.”
This development emerges at a critical juncture, when tensions between Iran and the United States remain elevated, with talks on revamping the 2015 Joint Comprehensive Plan of Action (JCPOA) yet to yield tangible results. Diplomats and experts view the Iran-U.S. negotiations as the more critical channel for addressing broader regional issues.
However, the upcoming dialogue offers an opportunity for Iranian leaders to demonstrate their commitment to regional stability and security, potentially bolstering their negotiating position in talks with the United States. Additionally, by engaging on a separate track with Gulf states and Iraq, Iran can highlight its commitment to cooperation, even in the absence of substantial progress on the JCPOA talks.
Regional officials and analysts expect the talks to focus on areas of mutual benefit, including maritime security, trade facilitation, and joint efforts to combat piracy and other threats. Participants are also expected to explore ways to boost joint capacity-sharing and intelligence cooperation.
These developments offer a nuanced look into regional dynamics, indicating that even amidst heightened tensions and complex negotiations, Iran, the Gulf states, and Iraq are exploring avenues for cooperation that transcend bilateral or multilateral agreements.