It is one thing to have the backing of other regional members, but quite another to expect Iran to accept the proposal. According to the source, the key elements are as follows:

• Iran would not exercise sole control of the Strait of Hormuz.
• The strait would be managed through a joint regional mechanism with voluntary fees.
• The proposal would be structured on the model of the Strait of Malacca, under which users of the waterway voluntarily contribute to fund navigation, environmental protection, and search and rescue.

On the first point alone, the proposal appears unlikely to move forward without concessions from Iran, especially amid renewed conflict with the US. The US naval blockade is back in force after the ceasefire deal fell apart.

That matters because the Strait of Hormuz is not just a symbolic flashpoint; it is a heavily watched maritime chokepoint, and any proposal about how it is managed has implications for shipping access, regional diplomacy, and the broader negotiating landscape. A joint mechanism modeled on another major strait may sound practical on paper, but the real test is whether it can function while tensions remain high and control of the waterway remains tied to the conflict.

Control over the Strait of Hormuz remains Iran's biggest leverage over the US in the conflict. It is a key source of leverage for keeping the situation going for this long and for any future point at which nuclear talks may run into difficulties.

Iran could agree to some form of fee or toll structure and may entertain the proposal publicly, but if tensions escalate in the strait, there is little reason to expect those conditions to be respected.

As noted previously, Iran can say whatever it wants about reopening the strait and surrendering control, but shiptracking data continues to indicate a de facto closure in the Strait of Hormuz. Four months have passed and nothing has changed.