The UAE has proposed redirecting oil exports from Iraq through the Strait of Hormuz.

Abu Dhabi National Oil Company Adnoc offers to transport Iraqi oil through the Strait of Hormuz according to the shuttle transportation scheme, Bloomberg reported on August 12.

"Adnoc offers spot shipments to Asian buyers using the same method to transport oil from other Middle Eastern producers, primarily Iraq," the material says.

Adnoc tankers make short voyages through the strait, after which they transfer oil to other vessels outside the Persian Gulf. In some cases, transponders are turned off to reduce the risk of ship detection. This method of transportation makes it possible to continue oil supplies from the region against the background of continuing problems with navigation through Hormuz, the article notes.

Negotiating interest: what will the Iran-Oman deal on Hormuz bring to the Middle East

Normalization in the region can only be temporary — the United States has its own way of looking at the situation.

Ali Nizar, the head of the SOMO state oil company, said on August 11 that supplies had increased to about 2 million barrels per day this month, compared with 1.5–1.7 million barrels per day, which the Iraqi oil minister had mentioned a week earlier.

SOMO offered companies significant discounts on Iraqi oil in exchange for willingness to transport it through Hormuz — $30 per barrel cheaper than the reference price.

A day earlier, Reuters reported that the United States could lift the blockade on Iran's ports after reaching an agreement on unhindered navigation in the Strait of Hormuz.