As the conflict between the United States (US) and Iran continues to rage on in the Middle East, Indian Navy chief Admiral DK Tripathi said on Thursday that disruptions in the Strait of Hormuz has led to severe economic impact and energy instability in the region. He was speaking at the flagging of ceremony of IOS SAGAR in Mumbai.
The Indian Navy chief further said that the competition at the sea is no longer restricted to oil and energy, and has expanded to resources which will now shape the future growth. Admiral Tripathi also pointed out that there has been significant rise in deep sea activities.
"With the conflict in West Asia well into its fifth week, the disruptions in the Strait of Hormuz have caused severe economic impact and energy instability in the region. At the same time, competition in the sea no longer confined to oil and energy. It is now expanding to resources that will shape future growth such as rare earth elements, critical minerals, new shipping routes, and human data. As a result, there is a significant increase in the marine deep sea activity, and illegal fishing," he said.
The Iran war and the Strait of Hormuz
Following the joint strikes by the US and Israel that claimed the life of Supreme Leader Ayatollah Ali Khamenei on February 28, Iran has closed the Strait of Hormuz, a critical transit point from where nearly 20 per cent of the global crude passes through. This has disrupted the world's energy supplies, causing chaos across the global and leading to a hike in crude rates.
US President Donald Trump has threatened Iran to open the Strait of Hormuz, but the Middle East nation is now considering imposing toll on vessels that will pass through the chokepoint. However, the Islamic Republic has said that it remains open for its friends, including India. On Thursday, it further reassured India over the Strait, saying "our Indian friends are in safe hands, no worries."
The central government is also in constant touch with the Iranian authorities, with Prime Minister Narendra Modi holding talks with Iran's President Masoud Pezeshkian and calling for dialogue and diplomacy to resolve the conflict, and end all hostilities in the region.
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