Iran Engages in Talks with Saudi Arabia and Oman on Strait of Hormuz

On July 28, 2026, Iran's Foreign Ministry announced discussions regarding the Strait of Hormuz with officials from Saudi Arabia and Oman. Iranian Foreign Minister Seyyed Abbas Araqchi conducted separate phone calls with Saudi Foreign Minister Faisal bin Farhan and Omani Foreign Minister Badr Al-Busaidi to discuss recent bilateral and regional developments. The ministry's statement highlighted the importance of enhancing cooperation and diplomatic efforts to stabilize the region and address security concerns in the Strait of Hormuz, which they attributed to actions by the United States. This development follows a temporary pause in U.S.-Iran hostilities after two weeks of strikes. Market reactions included a rally in stocks and a decrease in oil prices. However, military actions have continued in the region, with Saudi Arabia reporting drone interceptions linked to Iran-backed militias, while the Iraqi militias have not claimed responsibility. U.S. President Donald Trump referred to the talks as 'good' but indicated that U.S. military action would resume if negotiations do not progress. The Iranian foreign ministry denied any direct negotiations with the U.S. but acknowledged that messages are being exchanged through intermediaries.