India participated in the Tehran Dialogue Forum, the 23rd Persian Gulf International Conference held in Tehran, Iran from January 06- 07, 2020. During the forum, India supported the Hormuz Peace initiative 2020. The initiative was done so as to seek stability in one of the world’s busiest and strategically located shipping lanes i.e, Strait of Hormuz amid escalating US-Iran tensions. Oman, India, China and Afghanistan were the key participants.Hormuz Peace initiative 2020 in Tehran Dialogue Forum:
i.Plans under HOPE: The meeting reviewed the latest developments in the Persian Gulf region and also evaluated the regional cooperation plans under the ‘Hormuz Peace Endeavor’ (HOPE), proposed by Tehran at the 74th session of the United Nations General Assembly (UNGA) that was held in September 2019.
- It was presented by Iran President Hassan Rouhani at UNGA.
ii.Strait of Hormuz:The Strait of Hormuz is one of the world’s most strategically important choke points. It has Iran in the northern coat, UAE (United Arab Emirates) and Musandam, an enclave of Oman in the southern coast. It acts as an important gateway for significant amount of global oil supplies.
- Length: The strait is 90 nautical miles (167 km) long, with a width varying from about 52 nautical miles to 21 nautical miles.
- Oil & LNG supply to India: 2/3rd of oil and 50% of liquefied natural gas (LNG) imported to India comes through the strait between Iran and Oman.
- General statistics: Everyday 18 million barrels of oil pass through the Strait of Hormuz that accounts for 1/3rd of the global oil trade. 1/3rd of the world’s LNG trade also passes through the strait.
iii.Waterway issues: In june 2019, 2 oil tankers were damaged by explosions. The United States(US) blamed Iran for the attack as a response to the US tightening sanctions in Iran. however, Iran denied it. Since the explosion Indian ships under the assistance of Indian Navy(IN) passes through the waterway.
iv.Members present:Foreign Minister of Oman Yusuf bin Alawi and former President of Afghanistan Hamid Karzai and members from China and experts, directors of various foreing think tanks, and ambassadors participated in the forum.
Currency- Iranian rial.
President- Hassan Rouhani.
Supreme leader- Ali Khamenei.