Iran says Oman deal in 'final stages' but US must act to open Hormuz

Iran announced on Sunday that a deal with Oman outlining new shipping lanes in the Strait of Hormuz was nearing completion, though it maintained that the strait would only open once the United States satisfied additional requirements. A U.S. source informed Reuters on Friday that an understanding between Iran and Oman was nearing fruition and could soon restore access to the waterway, which once handled a fifth of global oil and liquefied natural gas trade before Iran closed it in response to U.S. and Israeli assaults.

Iranian Foreign Minister Abbas Araqchi stated on Sunday that the agreement on the strait, situated between the two nations, was in the final stages, but repeated his remarks from Saturday that it would not reopen unless other conditions were met. According to Mehr news agency, he said the agreement would delineate the new shipping lanes to be utilized once the U.S. fulfills those conditions and the strait is reopened.

Iran and the U.S. are not engaged in discussions and Tehran will not initiate them as long as Washington violates an interim agreement signed in June, Araqchi added, noting that communication is being exchanged through intermediaries.