In light of the evolving situation in West Asia, Prime Minister Narendra Modi chaired a high-level meeting on Sunday to review the situation related to the petroleum, crude oil, gas, power, and fertilizer sectors. Present at the meeting were Defense Minister Rajnath Singh, Union Home Minister Amit Shah, Union Finance Minister Nirmala Sitharaman, Union Health Minister JP Nadda, India’s National Security Advisor Ajit Doval, Agriculture Minister Shivraj Singh Chouhan, and Railway Minister Ashwini Vaishnav, among other senior ministers.
It is noteworthy that due to the blockage of several Indian ships in Iran’s Strait of Hormuz, LPG tankers are facing difficulties in reaching the country. However, the government has assured that it will purchase LPG from wherever possible. If Russia becomes an option, purchases will also be made from there.
Following the US and Israeli attacks, Iran closed the Strait of Hormuz and made it clear that it would not allow any enemy country to pass through it. This closure is affecting many countries, including India. Ships are finding it very difficult to pass. This blockage is affecting crude oil supplies, causing global oil prices to skyrocket.
Since the crisis erupted, External Affairs Minister S. Jaishankar has spoken with Iranian Foreign Minister Abbas Araghchi five times. Both sides have assured cooperation. Iran has also asked BRICS countries to intervene in this matter, which is noteworthy, as Iran itself is a BRICS nation.