Iran ties Hormuz reopening to US concessions on several demands

Iran says Hormuz reopening hinges on US compensation, sanctions relief and an end to military threats, while Washington says it is seeking a deal to restore commercial shipping through the vital oil route.

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 US must meet other conditions, including compensation and an end to sanctions and military threats, before the strategic waterway is reopened.