Iran's Foreign Minister Abbas Araqchi said negotiations with Oman over the Strait of Hormuz are in their final stages, according to the IRNA news agency.
Foreign ministry spokesperson Esmail Baghaei said the talks aim to find a mutually agreed mechanism for the Strait of Hormuz, according to state media. Baghaei added that the understanding between Iran and Oman on a new route does not mean the waterway is being opened or closed.
Details of the new route were not immediately clear. Iran has effectively maintained control over the strategic waterway, through which around 20 per cent of global oil consumption passes on normal days, since the outbreak of war.
The announcement comes after US President Donald Trump said the United States would hold off on a new attack on Iran in the hope of reaching a quick deal.