world 🚢 Iran lists conditions for Strait of Hormuz reopening
Iran is preparing a list of conditions for reopening the Strait of Hormuz following requests from mediators. Iran has agreed with Oman on a shipping corridor using a central channel, provided the US meets specified terms. The conditions include lifting the blockade on Iranian ports, paying compensation, and removing sanctions. Previously, the strait handled about one-fifth of global oil and LNG shipments before the war began in February. Next, the details of this waterway agreement between Iran and Oman are still under negotiation. 🚢