Iran and Oman are “very close” to reaching an agreement on a new navigation route through the Strait of Hormuz, Iran’s Foreign Minister Abbas Araghchi said, according to AlQahera News.
The reopening of the strategic waterway would depend on other conditions, including compensation for what Tehran described as US violations of the Islamabad memorandum of understanding, Araghchi said.
Iran and Oman are currently discussing a temporary route for cargo shipments through the strait, he added.
A previous plan to separate traffic lanes in the Strait of Hormuz was no longer acceptable to Tehran, which was seeking a new route, he said.
The strait, a key global energy chokepoint linking the Gulf with the Gulf of Oman, carries a significant share of the world’s oil shipments.
