India, along with China, Russia, Iraq, and Pakistan, was permitted to pass through the Strait of Hormuz by Tehran, informed by the country's foreign minister.
According to reports on March 24, Thursday, Abbas Araghchi confirmed that Tehran had granted permission to five countries to pass through the narrow passage safely, without any attacks, amid the West Asia crisis. Then he named the five countries as India, Iraq, Pakistan, Russia and China.
He also reiterates that countries aligned with Iran's adversary will not be allowed to enter the Strait of Hormuz. By claiming that "The region is a war zone, and there is no reason to allow the ships of our enemies and their allies to pass through," the news agency quoted Araghchi as having told the Iranian state broadcaster. "But it remains open to others."
He claimed that some countries with their own vessels transiting the Strait of Hormuz approached Iran to ensure their safety, and that Iran views some of those countries' requests for help as friendly, and hence it has promised to provide safety for the five countries.
The Strait of Hormuz is one of the world's most critical maritime routes: Nearly 20% of global oil supply passes through it. It connects the Persian Gulf to the Arabian Sea. Many Indian oil shipments depend on this route. Due to the ongoing conflict, Iran has increased control and monitoring of ships passing through the area.
The siege of the passage had a significant impact on the global economy, leading to a surge in petroleum and other important energy sources in the countries involved. After a slight decline in global oil prices on Wednesday, Brent crude was trading above $100 per barrel on Thursday. On February 27, just before the conflict began, the price stood at $78 per barrel.
The positive signs from Iran to India and other countries lead to controlling and stabilising oil supply, securing higher petrol prices, reducing security risks, strengthening diplomatic relations, and creating smooth trade and Shipping.
