Iran says deal on Strait of Hormuz is close but will not open the waterway by itself

AI Summary

Iranian Foreign Minister Abbas Araqchi announced that Iran and Oman are close to an agreement on a new shipping route through the Strait of Hormuz but reopening the waterway depends on other conditions including US compensation to Iran. The deal holds significant geopolitical and shipping implications.

Iranian Foreign Minister Abbas Araqchi said Iran and Oman were "very close" to agreement on a new shipping route through the Strait of Hormuz, but that reopening the strait depended on other conditions, including US compensation to Iran.