India’s direct talks with Iran have “yielded some results” in allowing Indian ships to pass through the Strait of Hormuz amid the conflict in West Asia, External Affairs Minister S Jaishankar told the Financial Times on Sunday. He, however, added that there is no “blanket arrangement” with Tehran for Indian vessels to move through the strait.
In an interview to the newspaper, Jaishankar said that each movement of Indian ships through the strait is being handled individually.
“I am at the moment engaged in talking to them [Iran] and my talking has yielded some results,” Jaishankar told the Financial Times. “This is ongoing. If it is yielding results for me, I would naturally continue to look at it.”
The Union government on Saturday confirmed that two Indian-flagged vessels carrying liquefied petroleum gas – Shivalik and Nanda Devi – had crossed the Strait of Hormuz.
Jaishankar said that the passage of the ships showed what diplomatic negotiations could achieve.
He added: “From India’s perspective, it is better that we reason and we co-ordinate and we get a solution than we don’t…So if that sort of allows other people to engage, I think the world is better off for it.”
The remarks came after United States President Donald Trump on Saturday urged other countries to send warships to help secure the Strait of Hormuz.
In the interview, Jaishankar also said that the discussions with Tehran were continuing as several Indian vessels were still waiting to pass through the strait.
“These are still early days,” he said. “We have many more ships there. So while this is a welcome development, there is continuing conversation because there is continued work on that.”
He added: “India and Iran have a relationship. And this is a conflict that we regard as something very unfortunate.”
The conflict in West Asia began on February 28. Iran has effectively blocked the Strait of Hormuz for most international commercial vessels. About 20% of global petroleum supply passes through the maritime chokepoint.
The International Energy Agency on Thursday said that the fighting has caused the “largest supply disruption in the history of the global oil market”.
Global oil prices have surged since the conflict began. The benchmark Brent crude oil price has crossed the $100 per barrel-mark. The price was about $72.8 per barrel on February 27, a day before the conflict began.
The disruption has also affected LPG supplies in India. The country imports about 60% of its LPG demand, most of it from Gulf countries. The disruption has led to several eateries being temporarily shut, and long queues outside LPG godowns and agencies.
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