Reports are doing the rounds that Iran specifically allowed its BRICS counterpart India to access oil from the Strait of Hormuz, a privilege only a few can now get. The speculations emerged after India’s external affairs minister S. Jaishankar met Iran’s foreign minister Abbas Araghchi during the height of the ongoing conflict.
The next day, several unconfirmed reports made the news cycle that Iran allowed India access to oil by opening the Strait of Hormuz, and the Modi-led government sent oil tankers to load the shipments. This comes when every other country has been denied access to the Strait. However, BRICS member Iran officially clarified the rumors on Thursday about allowing India to gain oil access.
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BRICS: Iran Clarifies If It Allowed India To Load Oil From the Strait of Hormuz
Iran denied on Thursday that it allowed BRICS counterpart India oil access from the Strait of Hormuz. The country clarified that the blockade remains for all, with no exception, until the US and Israel back out. Iranian officials confirmed that the speculations are incorrect and no special deal has been signed with India.
The Strait of Hormuz remains the most maritime critical route that carries nearly 20% of the global oil supply. The countries in Asia and the Global South increasingly depend on the route to fulfil their oil requirements. For India, the only hope came after the US allowed it to procure oil from its BRICS counterpart, Russia.
While that satisfies crude oil requirements, India still depends on BRICS member Iran for LPG. The blockade of the Strait of Hormuz is forcing people to limit their cooking essentials, as gas services are limited. The stock is available only for the next two months, and if the war continues, a disaster would brew in the country. The hotel industry is already facing the heat as the government is limiting gas deliveries for restaurants.
