Iran has permitted Indian oil tankers to travel through the key shipping route of the Strait of Hormuz after discussions between S. Jaishankar and Iran’s foreign minister Seyed Abbas Aragchi, according to a report by The Economic Times.
The development comes even as Iran continues to block tankers and container ships linked to the United States, Europe, and Israel from using the waterway.
Jaishankar and Aragchi spoke on Tuesday about the rapidly worsening situation in West Asia. This marked their third conversation since the United States and Israel began military operations against Iran last month.
Indian Tankers Move Safely Through Strategic Route
After the diplomatic exchange, two Indian tankers — Pushpak and Parimal — were able to sail safely through the Strait of Hormuz. People familiar with the discussions told The Economic Times that ships from the United States, European countries, and Israel are still facing restrictions in the same area.
Ensuring the safe movement of Indian oil tankers through the strait was reportedly the main focus of the Jaishankar–Aragchi talks.
Attacks on Ships Rising in the Gulf
The diplomatic arrangement between India and Iran comes at a time when ship attacks in the region are increasing. According to Reuters, at least six vessels were attacked in the Gulf on Thursday, highlighting the growing risks to maritime trade routes.
The tensions in the region have disrupted global shipping and raised concerns about energy security.
India’s Heavy Dependence on Hormuz Route
During a media briefing on Wednesday, Sujata Sharma explained India’s dependence on the Strait of Hormuz for energy imports. She said India imports about 50 percent of its liquefied natural gas (LNG), and nearly 90 percent of those shipments travel through the strait.
However, Sharma clarified that the country’s exposure is lower when it comes to crude oil. Around 70 percent of India’s oil imports currently arrive through routes that bypass the Strait of Hormuz.
Iran Targets Energy Facilities After US-Israel Strikes
Iran has carried out retaliatory strikes on oil and gas facilities belonging to American partners across Gulf countries after attacks by the United States and Israel. These strikes have forced several producers to reduce their oil and gas output sharply.
At the same time, Iran has restricted movement through the Strait of Hormuz, disrupting a vital energy corridor. The waterway normally carries about 20–25 percent of the world’s seaborne oil and gas supplies. In addition to the disruption, several oil tankers have also been attacked in recent days. At least two Indian sailors on board these vessels have died in the incidents.
Oil Prices Surge Due to Supply Disruptions
The combined impact of production cuts and the restrictions in the Strait of Hormuz has pushed global oil and gas prices higher. Before the war began, crude oil was trading at around $72.48 per barrel. Prices later surged to a peak of $119.50 per barrel on Monday.
Although prices briefly dropped from that level, they climbed again on Wednesday and crossed the $100 mark as attacks on ships in the Gulf region intensified.