Topics Covered: Bilateral, regional and global groupings and agreements involving India and/or affecting India’s interests.
Hormuz peace initiative
What to study?
For Prelims: About the Starit of Hormuz and peace initiative.
For Mains: Significance and need for stability in the region.
Context: The meeting of Hormuz Peace Initiative was recently held in Iran.
The meeting saw participation from key regional players including Oman and India besides Afghanistan and China.
About the Initiative:
The initiative is led by Iran.
It aims to stabilise the Strait of Hormuz, the gateway for a significant amount of global oil supplies.
What is the Strait of Hormuz?
It is the waterway separates Iran and Oman, linking the Gulf to the Gulf of Oman and the Arabian Sea.
- On the north coast lies Iran, and on the south are the UAE and Musandam, an enclave of Oman.
- The Strait is 21 miles (33 km) wide at its narrowest point, but the shipping lane is just two miles (three km) wide in either direction.
Why does Strait of Hormuz matter?
- The Strait of Hormuz is one of the world’s most strategically important choke points.
- Two-thirds of the oil and half the liquefied natural gas India imports come through the strait between Iran and Oman.
- As much as 18 million barrels of oil pass through the Strait of Hormuz every day, accounting for one-third of the global oil trade. A third of the world’s LNG trade also passes through the strait.
Sources: The Hindu.