Amidst the increasing tension in West Asia, Iran is accused of extorting huge amounts of money from merchant ships passing through the Strait of Hormuz. This area is counted among the most important oil routes in the world, but due to the current situation it has now become a high-risk zone. According to reports, a fee of up to 20 lakh dollars i.e. about Rs 18 crore is being demanded from some ships for safe passage.
Iranian MP Alauddin Borujerdi has been quoted as saying that this step has been taken in view of the increased expenses due to the war. He says that Iran has rights over this strategic sea route, so it is natural to charge the ships passing through here. Similarly, Iran’s Foreign Minister Abbas Araghchi has also made it clear that this route is being closed only for the ships of those countries which Iran considers its adversary.
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The importance of the Strait of Hormuz can be understood from the fact that about 20 percent of the world’s oil and Liquefied Natural Gas (LNG) passes through this route. The impact of the blockage here since the beginning of March is now visible on global fuel prices and the movement of ships has also reduced. However, Iran is not applying the same rules to all ships. Indian LPG ships have been allowed to pass through this route and a Pakistani tanker has also passed through here, indicating that relaxation is being given in some cases.
Tension between America and Iran has increased further. US President Donald Trump has warned Iran to open the waterway within 48 hours, while Iran has also talked about retaliatory action. The situation has become so serious that Iran’s Revolutionary Guards have warned that if their power plants are attacked, this strait can be completely closed.
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