AGP Executive Report

Strait of Hormuz Crisis: The US and Iran traded fresh missile and drone strikes after an attack on a civilian ship in the waterway, with Washington saying it hit about 140 Iranian military targets and Tehran declaring the Strait of Hormuz closed “until further notice.” Oman Protest & Sovereignty: Oman lodged a formal protest with Iran’s ambassador over an attack on its territory, stressing sovereignty, good neighbourliness and non-interference. Maritime Rescue Off Musandam: Oman’s Maritime Security Centre said 23 crew members were rescued from the Cyprus-flagged GFS Galaxy off Musandam, while one sailor remains missing. India Condemns Ship Attack: India said 10 Indian nationals were rescued and one is missing, urging de-escalation and safe navigation. Gulf Fallout: Iran’s retaliation reportedly targeted Bahrain, Kuwait, Qatar, Oman and Jordan, while Kuwait said border posts and an offshore platform were hit by a hostile drone. UN Calls for Halt: UN Secretary-General António Guterres urged an immediate stop to escalating attacks.

Strait of Hormuz Crisis: Iran says the waterway is closed again after a warning shot hit a vessel on an “unauthorized” route, while the US says it launched a third round of strikes on Iran, hitting about 140 targets, as fighting spills across the Gulf. Oman Condemns Attacks: Oman’s government condemned an attack on its territory, and Iran’s Guards claimed they targeted Oman during the barrage. Muscat-Held Talks: Iran and Oman agreed to keep consulting on Strait of Hormuz navigation safety after Iran’s FM Abbas Araghchi visited Muscat, with Qatar joining as a mediator. Shipping Incident Off Oman: India condemned the attack on the Cyprus-flagged GFS Galaxy off Oman; 10 Indian nationals were rescued and one remains missing, with search-and-rescue ongoing. Regional Condemnations: Kuwait and Qatar also condemned renewed Iranian attacks as violations of sovereignty and international law.

Strait of Hormuz Diplomacy: Iran’s FM Abbas Araghchi met Oman’s Sayyid Badr Albusaidi in Muscat to discuss safe, free navigation and mechanisms under the Islamabad MoU, with both sides agreeing to keep technical and political talks going. US Pressure on Transit: Washington is pushing for a public Iranian pledge that the Strait is open and ships won’t be attacked, while reports say no US officials are physically attending consultations in Oman, with talks handled remotely. Oman’s Traffic Plan: CNN reports Oman proposed toll-free passage through the Strait, with a southern route for free navigation and a northern route requiring Tehran permits but no fees. International Law Backing: An IMO ruling rejected Iran’s attempt to claim unilateral control over Hormuz traffic, reaffirming freedom of navigation and transit passage. Regional Tensions: The diplomatic push comes as US-Iran threats trade blows and mediators scramble to salvage a fragile ceasefire.

Strait of Hormuz Diplomacy: Iran’s FM Abbas Araghchi arrived in Muscat for talks with Oman as the US demands a public pledge that the Strait of Hormuz is open and ships won’t be attacked, with negotiations continuing despite Trump saying the ceasefire is “over.” US-Iran Escalation: Trump renewed threats after funeral chants calling for his assassination, warning “1,000 missiles are locked and loaded” and vowing to “completely decimate” Iran if Tehran acts. Shipping Disruption: Attacks on commercial vessels have pushed traffic to shift routes, while the US and Iran trade blame for violations of the MoU. Oman Trade Snapshot: Oman reported a trade surplus of OMR2.09bn by end-April 2026, supported by exports and a jump in re-exports. Maritime Business: Mawani added Maersk’s service to Jeddah Islamic Port, linking it with Salalah and major global ports. Environment Alert: Oman’s Environment Authority warned against chasing or filming wildlife in Dhofar without permits.

Strait of Hormuz: The US and Iran trade blame as Washington demands Tehran issue a public guarantee that the Strait of Hormuz is open and that ships won’t be attacked, while Trump insists the June ceasefire is “OVER” even as talks continue. Oman Diplomacy: Iran’s foreign minister Abbas Araghchi is set to visit Oman for consultations on shipping safety, with Tehran saying it will cooperate with Muscat under the MoU framework. New Escalation: The US says it struck about 80 targets in Iran after attacks on commercial vessels, and Iran warns further escalation will bring broader retaliation. Maritime Impact: Shipping remains disrupted with insurers and operators cautious; some tankers still transit near the Omani coast despite severe threat levels. Energy Watch: Oman’s official crude price for September delivery is reported at $69.29 a barrel. Legal Fallout: Seafarers from a Thai cargo ship that was hit in the Strait file a lawsuit over labor rights and dismissal. Nuclear Oversight: The UN warns the IAEA has lost full monitoring ability over Iran’s nuclear programme after strikes.

US-Iran Tensions: The US and Iran traded fresh strikes for a third straight day after Trump said the interim ceasefire framework was “over,” while Iran buried Supreme Leader Ali Khamenei amid vows of revenge and reports of explosions in southern Iran. Hormuz Shipping Shock: Fighting pushed Strait of Hormuz traffic toward a near standstill, raising oil and insurance risks and disrupting global flows. Oman’s Role in Navigation: Oman reiterated its commitment to freedom of maritime navigation at the IMO Council, as mediators urged restraint and Oman-Turkey and Oman-Iran contacts continued. EU-GCC Solidarity: The EU plans to show solidarity with Gulf states at a high-level Brussels meeting, with freedom of navigation in Hormuz on the agenda. Maritime Legal Fallout: Three former crew members of a Thai cargo ship attacked near Oman in March filed a lawsuit over alleged labour rights violations. Oman Business & Events: Oman and Jordan launched a $100m joint investment company, while OCEC gears up for Sports Spark 2026. Energy Moves: ADNOC Logistics ordered four new LNG carriers, and Kanadevia partnered with BEC to develop green hydrogen projects in Oman.

US-Iran Escalation: The US carried out another round of strikes on Iran after Trump said the ceasefire is “over,” while Iran retaliated by hitting US-linked targets in Gulf states; Iran also buried Supreme Leader Ayatollah Ali Khamenei in Mashhad as explosions were reported around Bushehr and other southern areas. Strait of Hormuz Impact (Oman angle): Oil tanker traffic through Hormuz fell to near standstill, with shipping risks rising and vessels increasingly avoiding the US-coordinated Omani lane; Oman reiterated at the IMO that transit passage is guaranteed under international law and it does not support transit fees. Regional Diplomacy: Oman’s foreign minister held calls with Iran and Ukraine to push de-escalation and protect freedom of navigation, while Gulf states stepped up coordination after missile and drone attacks. Logistics & Trade: DP World added 700 lorries to expand GCC road freight as routes shift; Maersk said it will restore a second trans-Suez route using US-flagged vessels to improve transit times. Crime Crackdown: INTERPOL’s Operation First Light reported 5,811 arrests and $293m seized across 97 countries.

Middle East Tensions: 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 Iran including Bandar Abbas, Sirik and Bushehr, while Washington warned it may hit “hard again.” Hormuz Shipping Risk: The renewed exchange of fire has pushed Strait of Hormuz traffic toward a near standstill, with US officials linking strikes to keeping navigation safe after attacks on commercial vessels. Regional Fallout: Iran retaliated by targeting US-linked positions in Bahrain, Kuwait and Qatar, raising fresh concerns for the wider Gulf and for any interim deal. Oman Business & Trade: Asyad Shipping ordered six MR product tankers worth about $308m, with deliveries expected from 2029, as the company expands its fleet. Local Development: Dhofar Municipality took over the delayed Sahl Hamran housing project in Salalah, re-tendering and moving ahead with completion of 240 units and supporting infrastructure. Tech & Youth: Oman’s Civil Aviation Authority launched the DroneX summer program to train Grades 9–11 students in drone operations, maintenance and FPV design. Retail Expansion: LuLu opened a new Lulu Xpress store in Salalah’s Al Morooj, adding jobs and express shopping facilities.

US-Iran Escalation: The US launched another wave of strikes on Iran late Wednesday, saying the aim is to “degrade” Iran’s ability to threaten freedom of navigation in the Strait of Hormuz, hours after Donald Trump declared the ceasefire “over” following attacks on ships. Hormuz Shipping Risk: The renewed fighting has again raised fears for commercial traffic and seafarers, with the UN’s IMO warning nearly 6,000 crew members remain stranded in the Gulf and urging maximum restraint. Oman-Saudi Diplomacy: Oman and Saudi Arabia’s foreign ministers met in Muscat to discuss regional developments and maritime security, stressing freedom of navigation and dialogue to ease tensions. Oil and Markets: Oil prices jumped as the truce frayed, while analysts warned fuel and shipping disruptions could quickly ripple through costs. Local Business/Investment: Oman and Jordan moved ahead with a $100m joint investment company to back projects across sectors including telecom, agriculture, energy, mining, tourism and logistics.

Hormuz Flashpoint: 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 warning Tehran it will be held “accountable”; Iran retaliated by targeting US sites in Bahrain and Kuwait, while Trump said the Iran ceasefire/MoU is “over,” pushing Brent above $78. Aviation Safety: The EU aviation watchdog extended its advice for airlines to avoid Iran and Iraq airspace until Aug. 31 as tensions rise. Oman Markets & Industry: Oman India Fertiliser Company (OMIFCO) jumped nearly 20% on its Muscat debut after a $678m IPO, and Minerals Development Oman (MDO) signed a partnership with Kazakhstan’s Solidcore to develop a copper-gold project in North Al Batinah. Environment & Local Life: Oman distributed 274,000 fruit and wild tree seedlings to boost food security and green areas. Security & Services: Royal Oman Police arrested a suspect in Sinaw for jewellery and money theft; InterContinental Muscat received Green Key Certification.

Strait of Hormuz Flashpoint: The US launched “powerful strikes” on Iran after three merchant ships were hit near the Strait of Hormuz, with CENTCOM saying the action targets Iranian capabilities and is meant to “impose heavy costs” for attacks on commercial crews. Sanctions Pressure: Hours earlier, Washington revoked a licence allowing Iran to sell oil, a move that sent oil prices up and raised doubts over a fragile US-Iran interim deal. Oman-Linked Shipping Risk: Maritime monitors reported incidents close to Oman, including a tanker hit by an “unknown projectile” with a fire, and further damage to other vessels as threat levels were raised to “severe.” Regional Condemnations: Qatar, the UAE and GCC leaders condemned the attacks on Qatari shipping, while Iran blamed the US for breaching the memorandum of understanding. Oman Angle: The renewed disruption underscores why Oman’s coastal route and maritime security efforts remain central to keeping trade moving.

Strait of Hormuz Security: A tanker off Oman near Limah was hit by an “unknown projectile,” sparking a fire on the port side, with UKMTO saying there were no casualties or environmental damage and that authorities are investigating. Iran-US Tensions: Iran warned negotiations won’t move forward unless the US halts threats, as reports also said Iran fired missiles at commercial ships in the strait, raising fresh fears for shipping despite a fragile ceasefire. Regional Diplomacy: NATO foreign ministers are set to meet Gulf Arab counterparts to address the Hormuz stalemate and discuss a proposed multinational security mission. Oman Business & Energy: OPEC+ approved a modest August production increase of 188,000 bpd as oil prices react to Hormuz risk and supply recovery. Local Crime: Police in Shinas arrested a suspect over thefts and a vehicle fire linked to an exploded gas cylinder. Investment Update: United Solar completed $1.6bn funding for its Sohar polysilicon project with IFC support.

Strait of Hormuz Watch: Shipping through the Strait of Hormuz is slowly recovering, but insurers and operators remain cautious; tracking shows 108 vessels crossed over the weekend, with nearly a third choosing the Omani route as security risks linger. Energy Markets: Oil prices settled near pre-Iran war levels as OPEC+ agreed to raise August output by 188,000 bpd and Saudi cut Asia official selling prices, while crude flows to Europe continue. Oman Development & Investment: Dakhliyah secured about RO158mn in food-security investment projects, and Oman’s Tender Board approved over RO114mn in development works. Renewables Push: Oman plans four 1 GW solar IPPs (2028-2029) and a 2 GW pumped-hydro push to boost renewable power and grid reliability. Housing & Trade: Oman and Türkiye signed an MoU to boost housing, urban planning and real estate investment. Maritime & Safety: Oman participated in the IMO Council session in London, and RAFO firefighting teams contained a blaze at Masirah Port. People & Skills: More than 100 new finance professionals joined Oman’s workforce via ACCA. Tech & Policy: Oman joined the UN Global Dialogue on AI Governance in Geneva.

Oman Economy & Finance: OQ Exploration & Production (OQEP) has received its inaugural S&P global credit rating of ‘BBB-’ with a stable outlook, a milestone after its 2024 Muscat listing. Water & Infrastructure: Nama Water Services awarded a major 15-year performance-based contract worth about RO 900m with Suez and local partners to run water and wastewater services for over 2.3 million people and cut unaccounted-for water losses. Tourism & Travel: Oman Travel Hub launched to spotlight Oman’s landscapes and “hidden experiences,” linking travellers with small and medium tourism operators for tailored itineraries. Aviation & Connectivity: SalamAir reported 80.01% on-time performance in Q2 2026 and continues expanding routes. Sports: Oman Cricket named Vinayak Shukla as national team captain ahead of key international fixtures. Regional Energy Watch: OPEC+ agreed to raise oil output by 188,000 bpd from August, including Oman, while markets react to easing Hormuz shipping uncertainty. Maritime Tensions: Iran and Oman continue negotiating Strait of Hormuz transit “service fee” arrangements as global shipping watches closely.

OPEC+ Oil Update: Seven OPEC+ members, including Oman, agreed to raise output quotas by 188,000 barrels per day starting August, aiming to support market stability as Strait of Hormuz exports gradually recover. Hormuz Fees & Security: Iran says it will introduce service fees for ships using the Strait of Hormuz, with “special” treatment for friendly nations, while also warning against foreign military presence in the waterway. India–Gulf Diplomacy: India’s EAM S Jaishankar begins a six-nation tour, with a Kuwait stop July 7-9, covering Qatar, Bahrain, Kuwait and Oman and focusing on energy, trade, connectivity and regional developments. Oman Aviation & Tourism Links: SalamAir launched its first direct Muscat–Medan route in Indonesia, with twice-weekly flights expected to boost travel and business ties. Oman Economy: Oman’s GDP grew 2.6% in Q1 2026 to about RO 9.69 billion, with oil and non-oil activities both expanding. Road Safety: ROP arrested two motorists for speeding above 200 km/h on Sultan Said bin Taimour Road. Environment & Nature: Oman’s Environment Authority highlighted net-zero progress, including 72m trees planted and expanded protected areas; Ras Al Hadd turtle teams recorded 56 stranded turtles and 12,000+ tracks in H1.

Oman–India ties: India’s Ambassador to Oman Prashant Pise says the India-Oman CEPA (in force since June 1) should boost trade and investment, with businesses optimistic about better market access. Zakat healthcare: Oman launched the second phase of its Zakat-funded treatment initiative for private hospitals, with applications open until Aug 20 via the MoH portal or Zakat committees. Customs crackdown: Oman Customs seized illegal tobacco derivatives and 450 electronic shishas hidden in a vehicle at Al-Wajajah. Strait of Hormuz watch: Shipping along Oman’s coast dropped to a trickle after multiple U-turns, as Iran continues insisting vessels use approved routes; Iran also says it will charge “service fees” while claiming “friendly” states get special treatment. Energy markets: OPEC+ is set to approve another August quota increase of 188,000 bpd, even as oil prices wobble amid shifting Hormuz flows. Transport & safety: ROP reaffirmed window tint rules—up to 50% for side/rear windows, with the front windshield not allowed to be tinted. Diplomacy: India’s EAM S. Jaishankar begins a six-nation tour including Oman, with Gulf, UN and EU talks on the agenda.