The Foreign Minister of Pakistan, Ishaq Dar, announced that Iran has agreed to grant permission for twenty vessels flying the Pakistani flag to pass through the strategically important Strait of Hormuz. According to the statement, two Pakistani ships can pass daily, a result of prolonged diplomatic negotiations.
This is reported by Finway
The Importance of the Strait of Hormuz for the Global Oil Market
The Strait of Hormuz plays a key role in global energy, as approximately 20% of the world’s oil supplies are transported through it. Recently, the issue of control over the strait has become central to the tensions in the Middle East, which arose after the U.S. and Israel struck Iran at the end of February.
Actions by Iranian forces, which effectively restricted the passage of vessels, have raised concerns about the safety of maritime transport and have also impacted ship insurance. Even with permission granted for some vessels, uncertainty regarding the overall passage regime complicates obtaining insurance policies and planning routes.
Negotiations and Mediation by Pakistan
Pakistan serves as an important mediator between Iran and the United States. Islamabad has conveyed a peace proposal from the U.S. to Tehran, which contains 15 points with key demands put forth by Washington prior to the onset of the conflict. To deepen the dialogue, Pakistan plans to host the foreign ministers of Saudi Arabia, Turkey, and Egypt on March 29-30 to discuss further ways to resolve the situation.
Previously, U.S. President Donald Trump warned that the United States is prepared to strike Iran’s energy infrastructure if Tehran does not lift the blockade of the strait, initially giving 48 hours to resolve the issue and then extending this deadline several times in response to expectations for an official reply from Iran regarding the peace plan.
Tehran had previously suggested that vessels from “non-hostile” countries would have free passage through the Strait of Hormuz.
In his comments, President Trump also noted that Iran’s permission for the passage of 10 oil tankers is seen as a “gift” to the U.S., which may indicate a willingness to engage in dialogue.