US officials announced the signing of a pact with Iran, which will lead to a significant increase in shipping traffic through the Strait of Hormuz. This was reported by Qazaqyia.kz citing Reuters.
The specific terms of the agreement have not yet been disclosed, but experts believe it could positively impact oil transportation in the region. The Strait of Hormuz is a crucial passage through which about 20% of the world's oil exports transit.