The standoff over theStrait of Hormuzescalated again on Saturday as Iran reversed its reopening of the crucial waterway and fired on ships attempting to pass, inretaliationafter the United States pressed ahead with its blockade of Iranian ports. New attacks on the strait, through which roughly one-fifth of the world’s oil normally passes, threatened to deepen the global energy crisis and push the countries into renewed conflict as the war entered its eighth week. Is India prepared for a prolonged crisis?
There was a sigh of relief in the entire world after Iran on Friday announced the reopening of the Strait of Hormuz for commercial vessels, a move praised by US President Donald Trump. Iranian Foreign Minister Abbas Araghchi posted on X that the crucial waterway was now fully open to commercial vessels. Iran's announcement came after the 10-day truce between Israel and Lebanon appeared to hold.
Trump initially celebrated the opening of Hormuz, saying that the waterway was 'fully open and ready for full passage.' Minutes later, Trump said the American blockade on Iranian ships and ports "will remain in full force" until Tehran reaches a deal with the US, including on its nuclear program.
Hours later, Iran once again closed the Strait of Hormuz in retaliation for the US blockade. Iran's Revolutionary Guard Navy on Saturday warned that "no vessel should make any movement from its anchorage in the Persian Gulf and the Sea of Oman, and approaching the Strait of Hormuz will be considered as cooperation with the enemy" and will be targeted.
The Iranian fire hit two India-flagged merchant ships, prompting New Delhi to summon the Iranian envoy. Revolutionary Guard gunboats opened fire on a tanker and an unknown projectile hit a container vessel, damaging some containers, the British military’s United Kingdom Maritime Trade Operations center said on Saturday, as reported by AP.
According to figures, India imports around 85 per cent of its total crude oil needs. A significant share comes from West Asian producers such as Saudi Arabia, and the UAE, among others — most of it routed through the Strait of Hormuz. Any disruption in this corridor directly affects supply chains, freight costs, and insurance premiums, often within days.
Oil markets typically react instantly to such geopolitical shocks. It was evident as cost of a barrel of Brent crude fell to $88 (£65) a barrel after Iran announced the reopening of Hormuz.
Given the volatility, even the perception of risk around the Strait of Hormuz can push up global crude prices, feeding into higher fuel costs domestically and complicating inflation management for policymakers.
India is among the countries to have the highest number of ships cross the Strait of Hormuz during the Iranian blockade since February 28. Eight Indian-flagged vessels have successfully crossed the war-hit Strait of Hormuz, including MT Shivalik, MT Nanda Devi, Pine Gas, Jag Vasant, BW TYR, BW ELM, Green Asha, and Green Sanvi. New Delhi has so far relied on direct engagement with Tehran to facilitate the movement of vessels stranded in the narrow waterway. However, the situation looks different this time.
India should remain prepared for any sudden escalation in the West Asia conflict, said Union Defence Minister Rajnath Singh at a high-level meeting of the Informal Group of Ministers (IGoM). At present, India has 60 days stock of crude oil, petrol, diesel, and ATF (Aviation Turbine Fuel), the IGoM was told.
Source: India Latest News, Breaking News Today, Top News Headlines | Times Now
