{"id":"f-73cd9b4b27-1f02221b-a8d3-55ac-83c9-7d26340ac772","title":"‘Not an exchange issue’: Jaishankar clarifies after Iran allows Hormuz passage to Indian-flagged ships","description":"India’s diplomatic talks with Iran have secured passage for two Indian-flagged LPG ships through the critical Strait of Hormuz. EAM S. Jaishankar confirmed these direct engagements yielded results, emphasizing it as the most effective solution for safe shipping amidst regional tensions. This breakthrough is vital for India’s energy security, as the Strait is a key transit route for global oil and gas.","timestamp":1773740735,"category":"national_v_two","headline":"‘Not an exchange issue’: Jaishankar clarifies after Iran allows Hormuz passage to Indian-flagged ships","modifiedHeadline":"'Iran got nothing for Hormuz ship access': India","subCategories":["scid_b6669955"],"subcategoriesName":["National"],"region":"IN","bundleMetaData":{"bundleId":"7b48871c-c993-4956-b43d-6f46f8e1b036","bundleTitle":"Today In India","cardData":null},"iabCategoryId":"386","iabCategoryName":"Political Issues & Policy","fcSummary":"‘Not an exchange issue’: Jaishankar clarifies after Iran allows Hormuz passage to Indian-flagged ships","summary":"‘Not an exchange issue’: Jaishankar clarifies after Iran allows Hormuz passage to Indian-flagged ships","ctaUrl":"https://trends.glance.com/newz/astrology/IN/en/news9/f-73cd9b4b27-1f02221b-a8d3-55ac-83c9-7d26340ac772","sourceUrl":"https://www.news9live.com/india/not-an-exchange-issue-jaishankar-clarifies-after-iran-allows-hormuz-passage-to-indian-flagged-ships-2943616","bannerImage":"https://g-mob.glance-cdn.com/public/fc/image/Jl9GO7oGQoF0.webp","content":"

New Delhi : Two Indian-flagged ships were permitted to pass through the Strait of Hormuz, which Iran has blocked as its war with US and Israel mounts.

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Days after the passage, external affairs minister (EAM) S Jaishankar said direct talks with Tehran have yielded “some results”, and it was an “ongoing” process. He added that it was the most effective way to resume shipping through the Strait of Hormuz.

What Jaishankar said

In an interview with Financial Times, Jaishankar said: “I am at the moment engaged in talking to them, and my talking has yielded some results. This is ongoing. If it is yielding results for me, I would naturally continue to look at it.” He added: “Certainly, from India’s perspective, it is better that we reason and we coordinate and we get a solution.” He noted that “many more” Indian-flagged vessels are yet to cross the strait.

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The minister also said that every ship moved through the waterway individually and there was no “blanket arrangement” with Iran on the ship movement. The EAM clarified that Iran received nothing in exchange for the passage of the India-flagged vessels. He cited a “history of dealing with each other . . . which is the basis on which I engaged. It’s not an exchange issue,” he said. “India and Iran have a relationship. And this is a conflict that we regard as something very unfortunate.”

Two Indian-flagged ships carrying LPG passed through the Strait of Hormuz. The tankers, Shivalik and Nanda Devi, are carrying 92,700 metric tonnes of LPG. They are set to arrive at Mundra and Kandla ports in a few days. The passage was allowed after Prime Minister Narendra Modi spoke to Iranian President Masoud Pezeshkian. Jaishankar also had a conversation with his Iranian counterpart Seyed Abbas Araghchi, after which the passage was granted.

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How the blockade has impacted trade

The Strait of Hormuz has been blocked by Iran due to the raging war in the Middle East. Iran is striking US and Israeli vessels. The closure of the vessel has impacted passage of vessels from several other countries. The Strait is the transit route for about 20 per cent of global crude oil and natural gas. The blockade has resulted in energy security concerns in Asian markets such as India and China.

India is the fourth-biggest buyer of liquefied natural gas and second-largest buyer of LPG in the world. Most of this gas comes from the Middle East.

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As of March 16, oil prices touched almost $100 a barrel as the raging war that started last month went into its third week.

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‘Not an exchange issue’: Jaishankar clarifies after Iran allows Hormuz passage to Indian-flagged ships

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