storyvault
Jun 30, 2026

US & Iran close to reaching deal on Strait of Hormuz: Axios

The United States, Iran, and Oman are close to reaching an “interim” agreement to reopen the Strait of Hormuz, according to Axios citing two regional sources and a US official.

Washington is aiming for a Wednesday announcement, the report added.

The deal would include some of Iran’s demands for controlling traffic over the Strait of Hormuz, according to details published by Axios.

It is set for a 60-day period, which can be extended.

All inbound traffic of ships through the strait and into the Gulf would reportedly go in a northern lane through Iranian waters.

All outbound traffic through the strait and into the Arabian Sea would reportedly go in a southern lane through Omani waters, in coordination with Iran.

“No tolls or fees would be charged during the 60-day period,” according to the report.

Clearing the naval mines in the strait will start within 30 days. After the median lane of the strait is cleared, it will be used for all inbound and outbound traffic under a permanent arrangement between Oman and Iran.

Iranian Foreign Minister Abbas Araghchi agreed in principle over the weekend but still needed approval from Iran’s supreme leader and the Supreme National Security Council, which they gave on Tuesday. 

US consumes 'virtually all' long-range precision missiles in 5-month Iran war: Reuters
Long-range strikes may require riskier tactics.

  • Patriot, THAAD, and Tomahawk inventories also reduced.

  • White House says US military remains fully capable.

The US Army has used up much of its global stockpile of highly accurate long-range missiles during its five-month war with Iran, Reuters reported on Tuesday, citing three people familiar with the data.

The extensive usage has triggered widespread concern within the federal government regarding America's readiness for potential future conflicts with major adversaries, including Russia and China.

The primary weapons depleted are the US Army's surface-to-surface missiles: the Army Tactical Missile System (ATACMS) and the next-generation Precision Strike Missile (PrSM).

Two sources told Reuters that the military has fired "virtually all" of these precision munitions, which cost over $1 million per unit and allow US forces to strike targets from standoff distances without exposing piloted aircraft to enemy air defenses.

While US-supplied ATACMS played a pivotal role in Ukraine enabling strikes inside Russia, PrSM inventories were already relatively low at the start of the conflict because the system is newer. Production is currently shifting toward PrSM as ATACMS are phased out.

Dwindling stockpiles spark internal debates 

The figures have circulated among federal officials over the past week during intense administration discussions regarding how long the US can sustain strikes on Iran without dropping inventories below levels needed to respond to global crises.

Other posts