Iran says Strait of Hormuz deal close, oil restart hinges on compensation

Iran's foreign minister said Saturday his country is "very close" to reaching an agreement with Oman on a new shipping route through the Strait of Hormuz. Abbas Araghchi attached conditions that include compensation for what Tehran describes as US violations of the Islamabad memorandum of understanding.

Mohammad Baqer Zolqadr, secretary of Iran's top national security body, listed additional demands: ending US threats against Iran, stopping aggression against Iran and its Lebanese, Palestinian, Yemeni and Iraqi allies, lifting a blockade and sanctions, and freeing Iranian assets.

Iran's President Masoud Pezeshkian, a relative moderate, said he believed the time was right for an agreement.

The United Arab Emirates, in a separate development Saturday, condemned what it called an Iranian attack on a tanker linked to state oil company ADNOC. The UAE Foreign Ministry accused Iran's Islamic Revolutionary Guard Corps of "acts of piracy" and said the attack violated a UN Security Council resolution on freedom of navigation. State news agency WAM initially reported that a vessel from ADNOC had been targeted by a missile and the situation was under control. ADNOC is one of the world's largest energy producers, exporting crude, natural gas and refined products globally. Neither statement gave details on the tanker, its cargo or possible damage. No injuries were reported. Iran did not immediately comment on the UAE's accusation.