Hormuz’s drainage, that many countries rely too much for their raw exports and imports, as the Israeli-Iran struggle intensifies. After US killed nuclear facilities in IranTehran indicated the closure of this route, which could leave a major impact globally.
Strait located between Iran and its Gulf Arabs neighbors is used by India for about 40 percent of the supply received from the Middle East countries such as Iraq, Saudi Arabia, United Arab Emirates and Kuwait.
About fifth oil supply facility is supplied daily, Hormuz Closure Strait The deep impact of India?
Effect on raw imports of India
Overall, India imports 5.5 million barrels (BPD) per day of crude oil, out of which about 2 million BPD is sourced through the Strait of Hormuz.
While some experts believe that the passage will greatly affect the oil markets, there is less possibility of a big hit for India.
This is because Qatar, India’s leading gas supplier and Russia, from where India gets an important part of oil, does not use the Strait of Hormuz. Russian oil uses either the Suez Canal, Cape of Good Hope, or the Pacific Ocean and the Pacific Ocean, and.
In addition, other sources of India for LNG supply are in Australia, Russia and America.
However, India’s import of crude oil from Iraq, and to an extent from Saudi Arabia, may be affected to an extent, as the two countries use Straight of Hormuz for their exports.
What is Straight of Hormuz?
Amidst its struggle with Israel, in which America is now a party, Iran is weighing on several options to send a message, and gaining control between increasing stress.
One of these options is an important passage to close the Strait of Hormuz, which facilitates the supply of about fifth oil of the world, is supplied daily.
Iran’s Foreign Minister Sed Abbas Argchi said when asked about the closure after the US attacks on Iranian nuclear facilities, “There are various types of options available for Iran.”
However, even a brief bandh of this route will not affect only other exports from countries such as Saudi Arabia, UAE, Kuwait and Qatar, but also Iran. In addition, China, a major partner for IranIranian is the biggest importer of oil.
However, reports have suggested that the Iranian Parliament has given a node to shut down Hormuz’s straight, a step called the US a “financial suicide”.
