Has Iran granted permission for ships to sail to India, what MEA spokesperson Randhir Jaiswal told?
Amid the ongoing conflict in the Middle East, the foreign ministers of India and Iran have held talks in the past few days. Foreign Ministry spokesperson Randhir Jaiswal disclosed this information at a press conference on Thursday.
He was asked whether Iran had granted permission for ships to sail to India. He stated that it would be premature to comment further on this subject at this time. The recent talks discussed issues related to maritime shipping safety and India's energy security.
Jaiswal also stated that India paid tribute to Iran's late leader, Ayatollah Ali Khamenei. He stated that the Foreign Secretary visited the Iranian Embassy on March 5 to sign the condolence book.
Global oil market severely impacted
Meanwhile, the ongoing conflict in the Middle East has severely impacted the global oil market. The International Energy Agency (IEA) stated in its report released on Thursday that the current situation could create the biggest supply disruption in history. According to the agency, the blockage of the Strait of Hormuz off the Iranian coast since February 28 following US and Israeli airstrikes has severely impacted global oil supply, with potential far-reaching consequences.
Shortage could worsen
According to the IEA's monthly report, global supply is expected to fall by approximately 8 million barrels per day in March. This decline is due to disruptions to sea routes and regional production cuts. The agency warned that if shipping activities do not return to normal soon, this shortage could worsen, exacerbating volatility in the international market.