NEW YORK (VINnews) — Iran and Oman are close to reaching a dramatic agreement that could reshape shipping through the strategically vital Strait of Hormuz, according to a report published Tuesday by The New York Times.

Citing officials familiar with the discussions, the report said that vessels entering the Persian Gulf would travel through the northern shipping lane near Iran’s coast, while outbound traffic would use the southern lane near Oman.

The proposed arrangement would also include payments collected from commercial vessels. Iranian officials insist the charges would not be transit tolls but “service fees” intended to cover maritime security and environmental protection, with the revenue to be shared equally between Iran and Oman.

A U.S. official rejected Iran’s characterization, saying any temporary shipping route established in the strait would not require Iranian approval and would not include mandatory payments.

Iran has argued that, following the outbreak of the war, the Strait of Hormuz should no longer operate as an unrestricted international waterway. The United States has firmly rejected that position.

“If we create a precedent in the Middle East where a country can decide it controls an international waterway, charge ships to pass through it, and threaten to blow them up if they don’t pay, we’re creating a very dangerous precedent that could spread to other parts of the world,” U.S. Secretary of State Marco Rubio said.

President Donald Trump also addressed the issue Monday, saying the Strait of Hormuz could reopen “as soon as tomorrow.” He added that reopening the waterway would be the first step, followed by efforts to address Iran’s nuclear program.