External Affairs Minister (EAM) S Jaishankar met with foreign ministers of two countries that are at the epicentre of the Gulf crisis, Oman and Iran, and discussed the situation that has had a far-reaching impact on economies around the world.

He said on X that he received an update on the tense Gulf situation from Oman's Foreign Minister Badr bin Hamad bin Hamoud Al Busaidi On Friday.

Earlier in the day, he met Iran's Foreign Minister Seyed Abbas Araghchi, whose country is on the opposite coast from Oman on the Strait of Hormuz.

They "discussed the latest developments with regard to the Gulf conflict", EAM Jaishankar said on X.

The two countries hold the key to an interim solution to allow traffic through the Strait of Hormuz, which is almost at a standstill in the crisis set off by the US-Israeli bombing of Iran in February.

EAM Jaishankar's meetings came amid a major development on Friday on reopening the Strait.

Araghchi proposed a seven-day plan to open the Strait of Hormuz and restart negotiations on a longer ceasefire.

But Trump reportedly has rejected it.

Oman and Iran have held discussions on plans to open the strait under a system of collecting a fee for transit and having a two-lane system with ships entering the Gulf on the Iran side of the strait and leaving on the Omani side.

US President Trump threatened Oman over the discussion with Iran on such a plan, and ultimately Iran walked away, rejecting the Omani proposal.

Some ships have managed to go through by hugging the Omani coast, while the Iranian ports are under a US siege.

Tehran has attacked some ships taking the Omani route.

EAM Jaishankar denounced the closure of shipping lanes and attacks on ships and sailors at a meeting with diplomats from 25 countries to launch the Group of Friends on Safety and Security of Shipping and Seafarers.