India among 5 nations granted passage through Strait of Hormuz by Tehran

TEHRAN/NEW DELHI: (Mar 26) Iran allowed India and a number of other "friendly nations" including China and Russia to use the Strait of Hormuz for commercial shipping, Iranian Foreign Minister Seyed Abbas Araghchi has said.

Global oil and gas prices have surged after Iran virtually blocked the Strait of Hormuz, a narrow shipping lane between the Persian Gulf and the Gulf of Oman, that handles roughly 20 per cent of global oil and LNG (Liquefied Natural Gas).

West Asia has been a major source of India's energy procurement.