Tehran, Iran:- After a gap of nearly eight months, Iran has allowed Indian ships to pass through the Strait of Hormuz. Indian vessels will now be able to use this route without any obstruction. Iran has extended similar exemptions to ships from China, Iraq and Qatar. Restrictions on shipping through this route had been in place since February 28. India imports around 40 per cent of its total crude oil requirements through this route. According to reports by Iranian news website IranWire and Anadolu Agency, Ahmad Hayat-Moghaddam, Deputy Chairman of the National Security and Foreign Policy Committee of the Iranian Parliament, shared this information on Tuesday.
Reports indicate that Iran has granted India this exemption to ensure the uninterrupted supply of medicines. As far as China is concerned, the exemption has reportedly been granted in the expectation that Beijing will extend political support to Tehran during difficult times. However, Indian and Chinese ships will have to pay a fee to pass through the Strait of Hormuz, while Qatari vessels will be allowed to transit without any charges. The reason for granting the exemption to Iraq has not been clarified.
India imports more than 85 per cent of its crude oil requirements from abroad, of which around 40 per cent comes through the Strait of Hormuz. It is a crucial route for oil arriving in India from countries such as Saudi Arabia, Iraq, Kuwait and the United Arab Emirates. For instance, if India imports 5 million barrels of crude oil daily, around 2 million barrels of it arrive through the Strait of Hormuz. Therefore, any restriction on this route could seriously affect India's oil supplies.
The Strait of Hormuz is important not only for crude oil. India also imports large quantities of LNG (liquefied natural gas) and LPG (liquefied petroleum gas, used as cooking gas) from Gulf countries. This route is equally important for the supply of these products.
