'Iran hasn't received anything in return': Jaishankar as two Indian-flagged gas carriers cross Hormuz, calls it a result of diplomatic dialogue

External Affairs Minister S Jaishankar has emphasised that Iran’s permission for two Indian-flagged gas carriers to transit the Strait of Hormuz demonstrates the effectiveness of diplomatic discussions between the two nations. Jaishankar's comments come amid heightened tensions in West Asia, which have threatened critical shipping lanes and global energy supplies.

Jaishankar noted that the progress in negotiations has already "yielded results."

In an interview with The Financial Times, Jaishankar said that there is no "blanket arrangement" with Iran over the passage of Indian ships carrying gas —Shivalik and Nanda Devi — through the Strait of Hormuz, adding that Tehran has not received anything in return. "It's not an exchange issue. India and Iran have a relationship. And this is a conflict that we regard as something very unfortunate," he said.

Since the Hormuz disruption continues to roil global oil and energy markets, Jaishankar and his Iranian counterpart Seyed Abbas Araghchi have had multiple telephonic conversations on the passage of Indian and Indian-flagged ships from the strategically vital waterway. 

"Certainly, from India’s perspective, it is better that we reason, coordinate and find a solution than not," he said, reflecting the preference for diplomatic engagement over confrontation.

When asked about the possibility of European countries replicating India’s arrangement with Iran, Jaishankar explained that each country’s relationship with Tehran "stands on its own merits," making direct comparisons challenging. He added that India is open to sharing its approach with European capitals, noting their ongoing contacts with Iran.

Jaishankar further commented, "These are still early days. We have many more ships there. So while this is a welcome development, there is continuing conversation because there is continued work on that," underlining the ongoing nature of talks and the need for further progress.

The disruption of shipping through the Strait of Hormuz has significantly impacted global oil markets, pushing prices above $100 per barrel. India, as the world’s fourth-largest importer of liquefied natural gas and the second-largest buyer of LPG, relies heavily on these routes for essential energy supplies.

As Indian authorities monitor the situation, the government maintains that there is no domestic shortage of LPG, even as several energy-intensive industries report supply pressures. Officials have prioritised gas allocation for households and transport to safeguard essential consumption needs.

In addition to India, countries such as China and Russia have reportedly secured similar concessions from Iran.