India and Iran are likely to discuss the safe passage of Indian-flagged energy ships through the Strait of Hormuz this week on the sidelines of a meeting of BRICS leaders and foreign ministers in New Delhi, the Economic Times reported. Over the past few weeks, India has found it difficult for its ships to navigate the strait, and bilateral talks on the issue have so far yielded no resolution, people familiar with the matter said.
Iran’s deputy foreign minister, who will attend the BRICS sherpa meeting, may also represent his country at the foreign ministers’ meeting if Iran’s foreign minister Seyed Abbas Araghchi is unable to attend the May 14-15 conference, the ET report added.
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With some 40 to 50 India-bound ships stranded west of the Strait of Hormuz and bilateral talks yet to yield a lasting solution, Delhi is turning to the sidelines of this week’s BRICS meeting to push for a breakthrough in one of its most pressing energy security challenges.
India and Iran will hold insider talks this week on the movement of Indian tankers that have been unable to pass through the strait since the start of the US-Israeli war against Iran in late February, according to a report in the Economic Times, citing people familiar with the matter. The talks are expected to take place on the sidelines of the BRICS Sherpa meeting and foreign ministers’ conference scheduled for May 14-15 in New Delhi.
The strait is the gateway through which approximately 40 percent of India’s crude oil imports and 90 percent of its liquefied petroleum gas supplies pass. Its near-closure since the start of the war has created an acute vulnerability at the heart of India’s energy supply chain.
Where do India-Iran talks stand: 11 ships gone, 13 still stuck
The diplomatic engagement between Delhi and Tehran has produced some results, although the pace has been slow. Speaking at a weekly media briefing last week, Foreign Ministry spokesman Randhir Jaiswal confirmed that 11 Indian ships had successfully left the strait following direct diplomatic engagement with Iran.
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“We have seen forward movement and as a result of forward movement, diplomatic engagement and talks with the Iranian side, 11 Indian ships have left the Strait of Hormuz so far,” Jaiswal said. “There are still thirteen ships in the Persian Gulf and we are still in contact with the Iranian authorities, so the remaining ships can also cross the Strait of Hormuz and reach India, which is their destination.”
The BRICS meeting this week presents another opportunity to advance these talks at a higher diplomatic level.
Why the BRICS meeting matters: Iran and the United Arab Emirates House of Representatives for the first time since the war
The gathering in New Delhi has an additional significance that goes beyond bilateral relations between India and Iran. For the first time since the start of the war, the deputy foreign ministers of Iran and the United Arab Emirates will be on the same platform at a BRICS meeting, a development that has attracted attention given the sharp divisions between the two countries that have repeatedly prevented the bloc from reaching a consensus on the West Asian conflict.
Iranian Foreign Minister Seyed Abbas Araghchi may not attend a foreign ministers’ conference on May 14-15 if tensions continue to escalate in the Persian Gulf, the Economic Times reported, citing people familiar with the matter. In this case, Iran’s deputy foreign minister, who is already scheduled to attend the BRICS Sherpa meeting, is expected to represent Tehran at the foreign ministers’ meeting as well.
BRICS and West Asia: Why a joint statement has remained out of reach
Earlier attempts at consensus within BRICS on the situation in West Asia have failed. Special representatives for West Asia and North Africa met in New Delhi but did not issue a joint statement, with the conflicting positions of the UAE and Iran proving unbridgeable. This week’s meeting of foreign ministers will be closely watched for signs of movement.
Trump rejects Iran peace terms as oil crosses $100
The diplomatic backdrop to this week’s talks was further complicated by a new breakdown in US-Iran talks. US President Donald Trump rejected Tehran’s latest response to his proposal to end the Middle East war, calling the conditions on his Truth Social platform absolutely unacceptable.
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“I just read the response from the so-called ‘representatives’ of Iran. I don’t like it – ABSOLUTELY UNACCEPTABLE!” Trump said.
Iran responded to Washington’s latest peace proposal on Sunday, warning it would not hold back against any new US strikes and allow more foreign warships to enter the Strait of Hormuz. The collapse sent oil markets soaring. Brent crude futures advanced as much as 4.6 percent to $105.99 a barrel, while West Texas Intermediate traded near $100 a barrel.
“Optimism about the impending US-Iran deal has faded, pushing oil higher,” said Warren Patterson, head of commodity strategy at ING Groep NV in Singapore. “Concern is likely to grow over the possibility of a re-escalation, leaving prices to rise further.”
What Iran offered and why Netanyahu says the war is not over
Tehran has offered to transfer some of its stockpile of highly enriched uranium to a third country, but has outright rejected the idea of dismantling its nuclear facilities, the Wall Street Journal reports. Iran disputed this characterization through its semi-official Tasnim news agency.
Israeli Prime Minister Benjamin Netanyahu, whose forces launched a war against Iran alongside the United States on February 28, added his own condition to any potential end to the conflict, insisting that Iran’s nuclear infrastructure must be completely removed before hostilities can be halted.
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“It’s not over because there is still nuclear material – enriched uranium – that needs to be taken out of Iran. There are still enrichment facilities that need to be dismantled,” Netanyahu said on CBS’ 60 Minutes.
How bad is energy shock? The markets may not normalize until 2027
The International Energy Agency called the conflict the biggest supply shock in the history of energy. Sunday’s drone attack, which briefly set fire to a cargo vessel off Qatar in the Persian Gulf, underscored the ongoing dangers facing commercial shipping in the region. The United Arab Emirates and Kuwait reported intercepting enemy drones during the same period.
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Saudi Aramco CEO Amin Nasser said on Sunday that energy markets will not normalize until 2027 if shipping through the Strait of Hormuz remains restricted for more than a few weeks. The company diverted some oil flows through its Yanbu port on the Red Sea coast to make up for lost supplies.
A trickle of oil penetrates, but not enough
A small number of shipments made it across the strait. The United Arab Emirates and Saudi Arabia successfully moved several tankers, and Qatar managed to send its first shipment of liquefied natural gas since the conflict began. However, total waterway flows remain a fraction of pre-war levels, leaving energy markets in a state of permanent uncertainty with no clear solution in sight.
