Iran Lets India, China And Russia Use Strait Of Hormuz As Oil Prices Surge

Iranian Foreign Minister Seyed Abbas Araghchi has confirmed that Tehran is permitting commercial shipping from India and other friendly nations through the Strait of Hormuz while denying access to adversaries.

According to PTI, global oil and gas prices have surged after Iran virtually blocked the Strait of Hormuz, a narrow shipping lane between the Persian Gulf and the Gulf of Oman, that handles roughly 20 per cent of global oil and LNG.

West Asia has been a major source of India's energy procurement.

"We have permitted certain countries that we consider friendly to pass through (Strait of Hormuz). We allowed China, Russia, India, Iraq, and Pakistan to transit," Araghchi said, according to Iranian State TV.

At the same time, the Iranian foreign minister made it clear that ships linked to Iran's adversaries will not be allowed to transit through the strategic waterway.

"We are in a state of war. The region is a war zone, and there is no reason to allow the ships of our enemies and their allies to pass through. But it remains open to others," he said.

PTI reported that there have been growing global concerns over disruptions in commercial shipping through the Strait of Hormuz, with US President Donald Trump warning Iran of severe consequences if it does not fully reopen the waterway.

In the last couple of weeks, India has made diplomatic efforts focused on ending the conflict in West Asia as soon as possible and ensuring the unimpeded flow of energy through the Strait of Hormuz.

New Delhi thinks there could be serious ramifications for fuel and fertiliser security for many countries including India if the blockade of the shipping lane continues, reported PTI.

(With inputs from PTI)