India Plans To Send New Ships Through Hormuz Strait To Load Oil & Gas From Middle East

India plans to send ships through the Strait of Hormuz to load oil and gas from Middle East suppliers as the U.S.-Iran war continues to threaten global energy security.

The vessels will commence their journey after receiving final approval from the government, though the number of ships, the volume of cargo or the names of suppliers have not been revealed by official sources.

It remains unknown if Iran or the U.S., which are blocking different parts of the Strait and the surrounding waters, have given permission to New Delhi for this endeavour, since their approval is critical for the plan to work.

India’s External Affairs Minister Subrahmanyam Jaishankar met his Iranian counterpart Abbas Araghchi in New Delhi on the sidelines of a BRICS summit last week, where he discussed this plan.

India wants to import energy supplies from the Middle East since switching to alternative sources would take longer and would also be costlier.

Though India has begun to purchase crude from Russia and other suppliers, it is still dependent on the Middle East for the majority of its oil and gas supplies.

Russian oil carries the risk of sanctions as well, though Washington recently issued a waiver allowing the sale of Russian crude oil and petroleum products already at sea.

Shipping has been disrupted at the Strait of Hormuz, which handles a fifth of global oil flows, since the US-Iran conflict began.

This has severely impacted Asian countries like India, which witnesses rising oil prices and LPG shortages, leading to the temporary closure of cafes and restaurants in the southern parts of the country

The Indian Navy has escorted many commercial ships from the Hormuz in the past few weeks, and also increased surveillance in the Arabian Sea.

It plans to do the same for the ships that will head to the Persian Gulf to load the necessary energy cargo.

India has also launched a marine insurance program offering uninterrupted coverage for Indian ships and cargoes in high-risk waters, including the Strait of Hormuz.