Attacks on merchant shipping completely unacceptable: India

E-PaperSubscribeSubscribeEnjoy unlimited accessSubscribe Now! Get features like India on Wednesday called for safe and unimpeded transit of merchant vessels as the closure of the Strait of Hormuz disrupted energy flows, with external affairs minister S Jaishankar backing closer coordination with partners to shore up supply chain resilience. The meeting was attended by the 11 members of AZEC, including Australia and Singapore, and partners such as India, Bangladesh and South Korea (PTI)Jaishankar represented India at the “Asia Zero-Emission Community (AZEC) Plus” meeting chaired by Japanese Prime Minister Sanae Takaichi, which focused on energy supply disruptions caused by the closure of the Strait of Hormuz. The waterway is used to transport about half of India’s oil imports. Follow live updates on Iran-US war “Underlined India’s strong commitment to safe and unimpeded transit passage of maritime shipping. Attacks on merchant shipping are completely unacceptable,” Jaishankar said on social media after the meeting. “Global growth demands that energy markets are not constricted. As a major energy consumer, India will work with like-minded partners to develop supply chain resilience,” he added. The meeting –attended by the 11 members of AZEC, including Australia and Singapore, and partners such as India, Bangladesh and South Korea –saw Japan unveil a new initiative, Partnership on Wide Energy and Resources Resilience (POWERR) Asia, aimed at supporting countries hit by fuel supply disruptions. The initiative will provide financial cooperation of about $10 billion to Asian countries, according to a readout from Japan’s foreign ministry. As part of efforts to strengthen supply systems, Japan will support crude oil stockpiling systems, construction of infrastructure such as storage tanks, restoration of oil production facilities in oil-producing countries in West Asia, and securing the safety of sea lanes. Takaichi said Asian countries were among the most affected by disruptions linked to the Strait of Hormuz and must work together to address the shared challenge. She described POWERR Asia as a framework combining emergency responses with longer-term structural measures, including financing crude procurement and maintaining supply chains. Also Read: ‘President Xi will give me big, fat hug’: Trump claims he is ‘permanently’ opening Strait of Hormuz Participants included Philippines President Ferdinand Marcos Jr., Malaysian Prime Minister Anwar Ibrahim, Singapore Prime Minister Lawrence Wong, and Bangladesh Prime Minister Tarique Rahman. Separately, external affairs ministry spokesperson Randhir Jaiswal said Prime Minister Narendra Modi had emphasised the need to keep the Strait of Hormuz “open, safe and secure” during a phone call with US President Donald Trump on Tuesday. Trump briefed Modi on developments in the West Asia crisis. Fifteen Indian-flagged or owned vessels are currently located west of the Strait of Hormuz, while nine vessels -- most of them LPG carriers -- have transited the waterway since the start of the conflict on February 28. “We are talking with several countries about the Strait of Hormuz to ensure that the rest of our vessels can transit in a safe manner and come to India,” Jaiswal said. With a US waiver on sanctions on Russian oil having expired and another on Iranian oil set to end, Jaiswal reiterated India’s focus on diversification. “We continue to buy oil from diversified sources keeping in mind the energy security needs of 1.4 billion people… and the global situation that we have to deal with,” he said.