Iran grants Bangladesh-bound tankers safe passage through Strait of Hormuz

WEB DESK: In a move intended to stabilise energy flows for its diplomatic partners, Iranian Foreign Minister Abbas Araghchi stated that vessels from countries including China, Russia, Pakistan, Iraq, and India have recently navigated the strategic waterway.

Araghchi noted that Bangladesh is among the nations coordinating with Tehran to ensure continued access an arrangement he suggested would persist even after the current regional conflicts subside.

While a senior official at the Foreign Ministry in Dhaka clarified there had been no “formal communication” regarding a specific grant of access, they noted that Bangladeshi vessels are “not subject to any restriction” under Iran’s current maritime policy, according to the Express Tribune.

Safeguarding Dhaka’s energy security

This development is of critical importance to Dhaka, which remains heavily reliant on the Gulf for its energy requirements. Bangladesh currently sources approximately 63pc of its energy supplies from Saudi Arabia, the United Arab Emirates, and Iraq, with the vast majority of its liquefied natural gas (LNG) arriving from Qatar.

Given that the country spent upwards of $10b on fuel and LNG imports in the last fiscal year, any prolonged disruption at the Strait through which a substantial portion of the world’s oil supply flows would have proved economically catastrophic.

To facilitate this “selective access,” Tehran has reportedly requested that Bangladeshi authorities provide advance notification regarding fuel-carrying vessels to ensure they are not caught up in restrictions aimed at “hostile” states.