India Flagged Oil Tankers May Be Allowed Safe Passage Through Strait of Hormuz

Summary:

An Indian source has claimed that Iran will allow India flagged oil tankers to transit the Strait of Hormuz despite the ongoing regional conflict. However, an Iranian source denied that any such agreement has been reached.

Key Points:

• India flagged tankers may be allowed to pass through the Strait of Hormuz.
• Iran has not officially confirmed the reported arrangement.
• Around 40% of India’s crude oil imports pass through the strait.
• A Thai ship heading to India was recently attacked in the region.
• India is exploring alternative oil supplies amid the crisis.

Detailed Article:

An Indian source has said that Iran may allow India flagged oil tankers to safely pass through the Strait of Hormuz, a crucial global oil shipping route, despite rising tensions in the region.

According to the source, nearly 40 percent of India’s crude oil imports pass through the Strait of Hormuz, making the security of the route critical for the country’s energy supplies.

However, an Iranian source based outside the country denied that any formal agreement had been reached regarding safe passage for Indian vessels. Neither India’s foreign ministry nor the Iranian embassy in New Delhi immediately commented on the matter.

The development comes after a Thai vessel heading to Kandla port in western India was attacked in the strait on Wednesday, drawing strong criticism from New Delhi.

India’s foreign ministry condemned the targeting of commercial ships in the region and expressed concern over the growing intensity of attacks linked to the ongoing conflict in West Asia.

Officials said several lives, including those of Indian citizens, had been lost in earlier incidents involving attacks on shipping vessels.

Since the beginning of the conflict between Iran and the United States Israel alliance in late February, Iran has reportedly attacked at least 16 ships passing through the strategic waterway.

Tehran has also warned that the conflict could drive global oil prices to as high as $200 per barrel if shipping disruptions continue.

The crisis has forced India, the world’s third largest oil consumer, to explore alternative energy sources. Officials say the country is increasing oil imports from Russia and other suppliers to reduce dependence on the Strait of Hormuz route.

India’s Foreign Minister S Jaishankar recently spoke with Iranian Foreign Minister Seyed Abbas Araghchi to discuss maritime security and regional developments.