The Iranian News Agency, IRNA, announced today, Saturday, that Tehran has granted permission to a number of Iraqi oil tankers to cross the Strait of Hormuz, after repeated requests submitted by Baghdad through various channels.
The agency explained that obtaining special approval for the crossing of Iraqi tankers was one of the most prominent demands raised during the visit of Iranian Parliament Speaker Mohammad Bagher Qalibaf to Iraq.
This step comes in light of mounting concerns about navigation traffic in the Strait of Hormuz, one of the most important sea lanes for global energy transport, amid increasing regional tensions that are reflected in the movement of oil tankers and supply lines.
Iraqi Prime Minister Ali al-Zaidi announced that his country is working to increase oil production in the coming years, indicating that there are plans to raise production to between 8 and 10 million barrels per day within 6 years.
He also revealed that Iraq is examining alternative options for exporting oil away from the Strait of Hormuz, via routes that include the port of Baniyas in Syria and Aqaba in Jordan, with the aim of enhancing the flexibility of Iraqi exports in the face of any potential disturbances in the region.
The Strait of Hormuz is a major artery for global oil trade, as large quantities of energy exports coming from the Gulf countries pass through it, which makes any security tension or restrictions on navigation movement in it an influential factor in global markets and oil prices.
