World latest updates: Iran says deal on Strait of Hormuz is close but not enough to open the waterway

Iran and Oman are reportedly nearing an agreement to manage ship traffic through the Strait of Hormuz, though Iranian officials emphasize that this alone will not suffice to fully reopen the waterway, which once handled a fifth of the world's oil shipments. Despite the ongoing talks, Iran has presented Washington with a new list of stringent demands, raising doubts about the speed at which the critical energy corridor might reopen.

These demands include an end to US threats against Iran, a halt to attacks on regional allies, full compensation for war-related damage, lifting of sanctions on Iran, release of frozen assets. Iran's Revolutionary Guards have made it clear that the reopening of the strait depends solely on Washington meeting Iran's conditions. However, the situation remains volatile, as evidenced by recent attacks on tankers in the strait.

Brief written by urgent.news from The Indian Express's own syndicated text. Machine-written — read the original for the full account.