Iran signals maritime cooperation amid Strait of Hormuz tensions. The Iranian representative to the International Maritime Organisation stated Iran is prepared to work with the UN agency to enhance maritime safety and protect seafarers in the Gulf region. However, passage through the strategically critical Strait of Hormuz remains conditional, with Iran restricting access for vessels linked to what it terms its enemies. The official emphasized that diplomacy remains Iran's priority, though mutual trust and cessation of aggression are prerequisites. Crude oil prices have surged on geopolitical concerns, rising 251 rupees as markets monitor developments in this vital shipping corridor through which significant global energy supplies transit daily.
