-Indian source says Iran to allow India Crude Imports

Iran will allow India-flagged tankers to transit the Strait of Hormuz, through which 40% of India's crude imports pass, an Indian source said on Thursday, though an Iranian source based outside ⁠the country denied any such agreement had been reached.



India’s foreign ministry and the Iranian embassy in New Delhi did not immediately respond to requests for comment.



The Indian source declined to be named, citing a lack of authorisation to speak to the media, while the Iranian source pointed to the sensitivity of the matter.



A Thai vessel bound for Kandla port in western India was attacked in the Strait on Wednesday, prompting strong criticism from New Delhi.



“India deplores the fact that commercial shipping is being made a target of military attacks in the ongoing conflict in West Asia,” the foreign ministry said late on Wednesday.



“Precious lives, including those of Indian citizens, have already been lost in multiple such attacks in an earlier phase of the conflict, and the intensity and lethality of the attacks appear to be increasing.”



Iran has attacked at least 16 ships in the passage since Israel and the United States began their war on the country in late February. Tehran has warned that oil prices ⁠could surge to $200 a barrel, nearly double current levels.