India, Aug. 18 -- Iran said on Monday it is working to finalise a joint statement with Oman on a plan to manage the transit of ships through the Strait of Hormuz. Fully reopening the waterway to commercial shipping has been a key demand of the United States, but it remains unclear whether the deal will meet Washington's criteria.

The announcement came as the 60-day negotiating period to find a peace deal between the US and Iran was expiring, with no word of an extension and both sides seemingly as far apart as they were two months ago.

Iranian Foreign Affairs spokesperson Esmail Baghaei told reporters in Tehran that "an understanding has been reached regarding the map of the transit route."

He did not elaborate, but details that have p...