Iran to allow Indian ships to pass through Hormuz:Route had been closed for 8 months; India imports 40% of its crude oil through it

Iran has exempted ships from four countries, including India, from the restrictions on passing through the Strait of Hormuz. Ships from India, China, Iraq and Qatar will now be able to pass through this sea route without any hindrance. According to reports by Iranian news website IranWire and Anadolu Agency, Ahmad Hayat-Moghaddam, deputy chairman of the Iranian Parliament’s National Security and Foreign Policy Committee, provided the information on Tuesday, 3 November. Ship traffic on this route had been affected for around eight months. The decision is particularly important for India, as around 40% of its total crude oil imports arrive through this route. India granted exemption for medicine supplies According to the report, India has been granted this exemption so that the supply of medicines to Iran can continue. China, meanwhile, has been granted the exemption because Iran hopes Beijing will stand by it during difficult times. However, Indian and Chinese ships will have to pay to pass through the Strait of Hormuz. Qatari ships, meanwhile, will be able to pass through the route without paying any fee. It has not been clarified why Iraq was granted the exemption. Why the Strait of Hormuz is important for India The Strait of Hormuz is one of the world’s most important maritime oil routes. It connects the Persian Gulf with the Arabian Sea. Iran lies on one side of it, while Oman and the United Arab Emirates (UAE) lie on the other. India buys most of the crude oil it needs from other countries. According to estimates, around 40% of India’s total crude oil imports pass through the Strait of Hormuz. Oil is supplied through this route from countries such as Saudi Arabia, Iraq, Kuwait and the UAE. If traffic on this route is halted, India’s oil supplies could be affected. This could drive up crude oil prices in the international market and put pressure on India’s import bill. Iran claims: Four oil tankers destroyed by naval mines Iran’s Revolutionary Guards have claimed that four oil tankers attempting to pass through a restricted route south of the Strait of Hormuz were destroyed after hitting naval mines. According to a statement by the Revolutionary Guards, all four tankers were on fire. They also claimed to have seized two other vessels. Iran warns America of renewed war Iran has clearly warned the United States that if war breaks out again, it is fully prepared to face it. Iran’s chief negotiator in talks with the United States, Mohammad Bagher Ghalibaf, said his country was “ready for war with its finger on the trigger.” Iran has said it is ready to reopen the Strait of Hormuz, but the United States will have to accept its longstanding demands for this to happen. Meanwhile, Iranian President Masoud Pezeshkian said his government was trying to resolve the crisis through talks. He said on Tuesday, “If war breaks out again, no one will benefit from it.”