The Islamic Revolutionary Guard Corps (IRGC) of Iran announced on Thursday that the Strait of Hormuz, a crucial shipping route for global oil trade, is closed to vessels from the United States, Israel, Europe, and other Western allies, CNN reported. The announcement comes amid rising tensions in the region, with the IRGC citing international laws that allow Iran to control passage during times of conflict.
This suggests Iran will not block Indian vessels from passing through the Strait of Hormuz. If confirmed, this development could provide significant relief for New Delhi, as several of its oil-carrying vessels have been stranded due to unrest in the Middle East.ย
Previously, Iran had announced that it would not allow any ships to pass through the Strait of Hormuz as it faces ardent strikes by the US and Israel.
However, on Wednesday, Tehran indicated that it would permit passage only to Chinese-flagged vessels, a move officials described as a gesture of gratitude toward Beijing for its stance on the ongoing Middle East conflict.
India mourns Khameneiโs death
In a notable diplomatic step, Foreign Secretary Vikram Misri on Thursday signed the condolence book on behalf of the Indian government for Iranโs former Supreme Leader, Ali Khamenei, who was killed in the strikes. This act is seen as a signal to Tehran that New Delhi is closely monitoring the situation and remains concerned with developments in the region.
India currently holds around 100 million barrels of crude in commercial storage tanks, strategic underground reserves, and on vessels in transit. Experts estimate this supply could meet Indiaโs oil requirements for about 40โ45 days if flows through the Strait are disrupted, according to Kpler.
New Delhi explores alternatives
India imports nearly 88 per cent of its crude oil, with more than half coming from Middle Eastern countries via the Strait of Hormuz. Despite the potential risk, government officials emphasised that Indiaโs energy position is stable and secure.ย
Officials also confirmed that India is actively exploring alternative energy sources. Australia and Canada have offered gas supplies, and India recently signed new contracts with the UAE and the United States. Currently, India imports 195 million standard cubic metres per day (MMSCMD) of gas, with Qatar supplying around 60 MMSCMD. Efforts are underway to diversify import markets further.
In addition to seeking alternative suppliers, India is in discussions with major oil producers, traders, the International Energy Agency (IEA), and the Organization of the Petroleum Exporting Countries (OPEC) to secure crude oil and LPG supplies. Talks with the United States are also ongoing to arrange insurance coverage for ships navigating risky waters.ย