WorldTehran says agreement on new Hormuz shipping lanes is close but insists sanctions relief, compensation and security guarantees must come before the strategic waterway reopensFile picture of vessels near the Strait of Hormuz, as seen from Musandam, Oman, August 6, 2026. U.S. President Donald Trump said in an interview with Axios that the U.S. was "low-keying" it with Iran. We are just watching Iran with its huge inflation and the fact they have no money." ConditionsAraqchi said reopening the strait would depend in part on the U.S. paying ‌compensation for damage it caused in widespread attacks on Iran. The ‌United States and Israel launched air strikes on Iran more than five months ago.