Iran has set pre‑conditions for reopening the Strait of Hormuz, insisting on compensation for war damages before the waterway—through which roughly one‑fifth of global oil and gas transits—can resume full traffic, a move that could delay the restoration of a key energy corridor.
Iranian Foreign Minister Abbas Araghchi said talks with Oman are in their final stages, but the reopening remains “subject to other conditions.” Secretary of Iran’s Supreme National Security Council Mohammad Bagher Zolghadr listed six demands, including halting US threats, lifting the naval blockade of Iranian ports and releasing frozen Iranian assets. The blockade has been in place since US and Israeli strikes in February.
The strait handles about 20% of worldwide oil and natural‑gas shipments, so any prolongation of the blockade or imposition of tolls could tighten supply flows and pressure freight rates. Compensation claims and the six‑point demand list add legal and financial uncertainty for shippers, insurers and energy traders reliant on uninterrupted transit.
Oman’s foreign ministry describes the talks as positive and hints at a joint‑managed alternate route, while Tehran stresses that no immediate reopening will occur until all conditions are met, highlighting a divergence between Omani optimism and Iranian pre‑condition stance.