Will the Strait of Hormuz reopen to India?

The latest announcement regarding the Strait of Hormuz comes as a relief to India amid the tense situation in West Asia. One of the busiest sea routes in the world, this strait carries about a fifth of the world's oil traffic. This route is crucial for ships bringing oil and gas to our country. Although Iran initially announced that only Chinese-flagged ships would be allowed to enter, the latest clarification is expected to create positive conditions for India as well. Since the West Asian tensions began, commercial shipping traffic on this route has almost stopped.

India is trying to find alternative routes due to the disruption of gas supplies from Qatar. In this context, Australia and Canada have come forward to supply gas to India. The US has also said that it is ready to supply oil. India currently imports 195 MMSCMD of gas per day, of which 60 MMSCMD comes from Qatar. Meanwhile, officials say the country has enough crude oil reserves for about 8 weeks. International organizations say that the reduction in shipping traffic is due to insurance coverage issues due to the war situation, and that the Strait of Hormuz has not been officially closed.