WorldIran says Hormuz shipping route framework with Oman is nearly complete

Iran says it has reached an understanding with Oman on the geographic coordinates of a new shipping route through the Strait of Hormuz. The development brings weeks of negotiations closer to a formal agreement. Iranian Deputy Foreign Minister Kazem Gharibabadi says nearly every issue is still being discussed, including the route map, transit arrangements and vessel movements into and out of the waterway. Tehran says bilateral agreements with Oman are close to finalisation.