Stephen Zunez, founding director of Middle East Studies at the University of San Francisco, suggests that Iran's plan to establish a restricted zone in the Strait of Hormuz may be related to its ongoing negotiations with Oman regarding shipping access through the strait. If the agreement with Oman proves feasible and acceptable to the United States, Iran might "withdraw" its enforcement of the restricted zone. If not, Iran has contingency plans in place to make the US rejection of the Iran-Oman agreement more difficult. The restricted zone could further complicate the situation, as the already stretched U.S. military would have to patrol and enforce the law over a larger area. It could also make shipping companies and their insurance companies less willing to risk navigating this dangerous waterway. Regarding the Gulf region, Zunez stated that Iran's neighbors have a "shared interest in resolving the conflict." If this Iran-Oman agreement does significantly increase shipping volume, it would obviously be a good thing. He believes they might even be willing to pay tolls or transit fees, or whatever they want to call it—although the U.S. would strongly oppose it in principle. However, he doesn't doubt that Oman and other Gulf states have been consulting throughout the process and have certainly contributed their opinions to shaping Oman's position.

According to the Iranian news agency IRNA, the chairman of the Iran-Russia Joint Chamber of Commerce stated that the goal of US sanctions is to increase the cost of economic transactions in Iran. He pointed out that in today's multipolar world, imposing an absolute economic blockade on Iran is difficult, and shared economic interests are an important way to counter these oppressive measures. He further stated that crude oil should not be the sole source of foreign exchange for the country, and the share of petrochemical products, petroleum products, industrial products, technical services, agriculture, and technology in foreign trade should be increased. Iran should not rely heavily on one or two trade routes, but should develop multiple land, sea, and combined transport corridors; in this regard, developing regional corridors is crucial.

Japan's July coincident economic index rose 1.7% month-on-month, up from 0.6% previously.

Japan's July coincident economic indicator preliminary reading was 120.6, below the expected 120.3 and the previous reading of 118.5.

Japan's leading economic indicators rose 1.7% month-on-month in July, compared with 0% in the previous month.

Japan's preliminary leading indicator for July was 117.9, below the expected 118 and the previous reading of 116.5.