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US President Donald Trump has warned that he will impose tariffs on ships passing through the Strait of Hormuz if a deal with Iran fails. The statement, amid rising tensions in the Middle East, has sparked a new global debate. Trump's statement on the Strait of Hormuz, one of the world's most important oil shipping routes, is likely to affect international trade and energy markets.
A liquefied natural gas (LNG) ship stranded in the Strait of Hormuz has safely reached India. The development comes as a major relief to India amid growing concerns about global energy supplies and provides a temporary answer to many questions raised about energy security.
Reports have raised concerns that the US has again attacked a ship carrying 20 Indian crew members near the port of Shinas in Oman. The full details of the incident are yet to be revealed, and there are concerns about the safety of the Indian crew. The development is likely to increase tensions in the region.
According to Ritolia, LPG imports are the “bigger vulnerability” for India.
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