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Mumbai India is once again preparing to send its oil ships through the Strait of Hormuz, which was closed after the Iran war. If the plan gets final approval, it will be the first time Indian ships will sail through this sensitive sea route carrying crude oil since the war began. Considering the security risks, the Indian Navy will also play an important role in this mission.

According to sources, this issue is being continuously discussed between the central government, oil companies and shipping agencies. Officials said that the entire plan is in the final stages and the movement of ships can start as soon as the approval is received. However, due to security reasons, information like quantity of oil and time limit have not been made public yet.

Waiting for the green signal from the Navy

According to the information, the government company Shipping Corporation of India (SCI) is ready to send its ships to the Persian Gulf. The company is awaiting security clearance from the Indian Navy and business orders from refineries.

Hormuz is included in the world’s most important oil routes

The Strait of Hormuz is counted among the most important maritime oil routes in the world. Globally, about 20 percent of the oil sent via sea is supplied through this route. But due to increased tension in the region after the Iran War, oil transportation almost came to a standstill.

India is the third largest crude oil importer in the world. In such a situation, the impact of this route has a direct impact on India’s energy security and domestic fuel prices.

Government launched special marine insurance scheme

In view of the increasing threat, the Government of India has also recently launched a special marine insurance initiative for high-risk marine areas. Its purpose is to provide security cover to Indian ships and oil cargo, so that the supply chain remains intact even amidst the crisis.

Although India has increased oil purchases from other countries, including Russia, in recent months, it still remains heavily dependent on the Middle East for its energy needs.

Oil from Middle East cheap and fast

Energy experts believe that it is more practical and economical for India to buy oil from the Middle East. Importing oil from other countries takes longer time and higher transportation costs. This is why despite the risk, India is taking steps towards activating the Hormuz Route again.

Meanwhile, the Indian Navy has also increased surveillance and patrolling in the Arabian Sea and surrounding areas to ensure the safety of Indian ships.

There is pressure on Russian oil also

On the other hand, there is uncertainty regarding oil purchase from Russia. The threat of US sanctions remains constant. However, recently the Donald Trump administration has given a limited exemption, under which the sale of Russian crude oil already loaded in tankers has been allowed.