Listen to Australian and world news and follow trending topics with SBS News Podcasts.TRANSCRIPT:Iran has set new conditions for reopening the Strait of Hormuz, including compensation from the United States and an end to what Tehran calls a naval blockade.The demands come as Oman says negotiations with Iran over navigation arrangements are progressing positively.Iranian Foreign Minister Abbas Araghchi says those talks are nearing their final stages, but has stressed they do not mean the strategic waterway is about to reopen.US Vice President JD Vance has told Fox News, Washington is using diplomatic, economic and military pressure to secure safe passage."We're in the middle of the game, and we're applying a whole host of tools: diplomatic, economic, military tools-to ensure that we get the best outcome for the American people You make a plan with the team."You can watch the ninth and final stage of the race live on SBS and SBS On Demand later today at 11:55pm Australian Eastern Standard Time.