Iranian Foreign Ministry reiterates that Washington has not adhered to the memorandum of understanding

• Adds that the announcement of maritime routes for transit through the Strait of Hormuz will be a joint announcement between Tehran and Oman

Statements of this kind from Iranian officials sit in a familiar pattern in which both sides to an arrangement accuse the other of non-compliance while signalling that a framework remains nominally intact. Episodes of this type have historically been read less on the diplomatic charge itself and more on whether anything concrete follows, since rhetoric alone has tended to fade without market residue while any shift in shipping logistics has not. The operational content here is the maritime transit plan for the Strait of Hormuz, framed as a joint announcement with Oman, which is consistent with the long-standing pattern of Muscat acting as intermediary in this channel. The distinction that matters for the transmission side is between rhetoric and physical disruption: only the latter transmits durably, through crude benchmarks, freight rates, and tanker insurance premia, with prior flare-ups in the strait tending to spike premia first and retrace when passage continues uninterrupted. The follow-ons are the substance and date of any Tehran-Muscat announcement, and any change in observed tanker behaviour, navigation warnings, or escort activity rather than official statements. The tags attached to this wire, a US retail REIT and broad equity indices, suggest a tagging artefact rather than any plausible equity transmission channel. As commentary without a new action, the signal is directional at best.