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Tehran demands US concessions as Iran, Oman near Hormuz shipping pact

IRAN and Oman are nearing a final agreement on new shipping lanes through the Strait of Hormuz, but Tehran has reiterated that the strategic waterway will not be reopened until the United States meets a series of demands, including compensation for w...

Iran and Oman are nearing a final agreement on new shipping lanes through the Strait of Hormuz, but Tehran has reiterated its demand that the United States must meet a series of conditions, including compensation for wartime damage and an end to sanctions and military threats, before the strategic waterway can be reopened. The agreement would establish new shipping lanes to be used once the United States fulfills these conditions and the strait is reopened, according to Iran’s Foreign Minister Abbas Araghchi.

US officials have confirmed that Iran and Oman are close to reaching an agreement that could restore safe passage through the strait, a crucial route for global oil and gas shipments.

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