Negotiations between Iran and Oman regarding the reopening of the Strait of Hormuz are very close to an agreement, Iranian Foreign Minister Abbas Araghchi said, according to the state-run IRNA news agency on the 8th (local time).

Attending a press conference held by Iranian President Masoud Pezeshkian, Araghchi stated in separate remarks that "the reopening of the Strait of Hormuz is conditional on meeting other requirements, including compensation from the United States for violating the Islamabad Memorandum of Understanding (MOU)."

Regarding the Traffic Separation Scheme (TSS) previously applied to the Strait of Hormuz, Araghchi said, "From Iran's perspective, the past TSS routes are no longer suitable for vessel navigation, and a new TSS needs to be considered."

Araghchi explained that the militaries of Iran and Oman are negotiating to finalize a new temporary route, and until then, the existing routes will serve as the basis.

Araghchi pointed out that under the MOU, vessel traffic in the Strait of Hormuz was expected to return to normal levels within a month, and had actually recovered to 60% of normal levels within two weeks of the agreement being signed.

However, he blamed the current restrictions on vessel traffic in the strait on the United States, claiming that Washington attempted to establish a new route.

Earlier in the day, Sardar Mohebi, a spokesperson for Iran's Islamic Revolutionary Guard Corps (IRGC), said, "The conditions for opening the Strait of Hormuz are that the United States fully accepts Iran's conditions and stops interfering in regional negotiations," adding, "If the U.S. accepts this, the strait will definitely open," according to the semi-official Tasnim news agency.

On the 5th, the U.S. daily The Wall Street Journal (WSJ) reported, citing sources, that Iran and Oman had agreed on key points of a draft agreement to establish a new inbound route near Iranian waters and an outbound route near Omani waters, and had communicated this to the U.S. and regional countries.

According to the draft agreement obtained by the WSJ, ships entering the Strait of Hormuz would use a route in Iranian waters in consultation with Iranian authorities, while ships leaving the strait would use a route within Omani waters in consultation with Omani authorities.

It is also known that while Iran would have control over vessels entering the Persian Gulf through the Strait of Hormuz, it would not be allowed to levy tolls or service fees.

However, it is possible that voluntary payments received by Iran to cover security and search-and-rescue costs would not be barred.