Iran ties Hormuz reopening to US concessions on several demands

(Reuters)

DUBAI/WASHINGTON/CAIRO, Aug 10 – Iran said it was nearing a final pact with Oman defining new shipping lanes between them ​through the Strait of Hormuz but repeated that the U.S. must meet other conditions, including compensation and an end to sanctions and military threats, before the strategic ‌waterway is reopened.

The strait, through which about a fifth of global oil and liquefied natural gas flowed prior to the conflict, has been effectively blocked since the U.S.-Israel attacks on Iran on February 28, pushing up oil prices and inflation.

Iranian Foreign Ministry spokesman Esmaeil Baghaei said on Monday that talks with Oman on arrangements for navigation through the strait were “progressing smoothly and constructively”, with an agreement reached on a shipping route map, while some technical issues on a joint ​statement remained unresolved.

He said during a weekly press conference in Tehran that the discussions also covered mechanisms for safe navigation, environmental protection, maritime services and combating crime, adding that such ​services would normally entail receiving payment in return.