Iran Permits Passage Through Strait of Hormuz for Select Nations Amid Ongoing Conflict

Iran's Decision on Strait of Hormuz Access

Iran has granted permission for certain nations, including India, to navigate the Strait of Hormuz during the ongoing tensions in West Asia, as stated by Foreign Minister Abbas Araghchi on Thursday.

According to the Iranian consulate general in Mumbai, the countries allowed passage include China, Russia, Iraq, and Pakistan.

Araghchi emphasized that vessels associated with Iran's adversaries will be prohibited from transiting through the strait, as reported by a news agency.

He remarked, “The region is a war zone, and there is no justification for allowing ships from our enemies and their allies to pass through. However, it remains accessible to others.”

Since the conflict escalated on February 28, Iran has largely restricted access to the Strait of Hormuz, a crucial maritime route linking the Gulf to the Arabian Sea, affecting most international commercial shipping. Approximately 20% of the world's fuel supply traverses this vital chokepoint.

This blockade has disrupted energy supplies and contributed to a surge in global oil and gas prices.

After a slight decrease in global oil prices on Wednesday, Brent crude was trading above $100 per barrel on Thursday, compared to $78 per barrel on February 27, just before the conflict began.

The International Energy Agency has indicated that the ongoing fighting has resulted in the largest supply disruption ever recorded in the global oil market.

In recent weeks, some vessels bound for India carrying energy supplies have successfully navigated through the strait.