Iran says Strait of Hormuz stays closed despite Oman talks

Iran warned Wednesday that the Strait of Hormuz will remain closed unless the US ends hostilities, despite talks with Oman on a temporary transit corridor and mine-clearing. Washington announced new sanctions, with Treasury Secretary Scott Bessent threatening "economic asphyxiation." During Tehran talks, Iranian and Omani foreign ministers discussed a "phased framework" including a joint temporary navigational corridor and mine-clearing project, per a statement. Iran's Deputy Foreign Minister Kazem Gharibabadi said no military vessels would pass, and the US must fully implement violated commitments before reopening. Nearly six months after US-Israel war with Iran, strait traffic remains paralyzed, disrupting global oil markets. Tehran blockaded the waterway, which normally carries about one-fifth of world oil and LNG exports. Oil prices declined Wednesday as Middle East flare-up concerns receded.