Dar stresses need for uninterrupted energy supplies amid regional tensions

Deputy Prime Minister and Foreign Minister Ishaq Dar spoke with Iranian Foreign Minister Abbas Araghchi via phone on Saturday, discussing recent regional developments. During their conversation, Dar emphasized the critical need for consistent energy supplies and the unimpeded passage of vessels, highlighting their importance for developing nations and global supply chains.

He also stressed the necessity of ongoing dialogue and diplomacy, asserting that these are the sole viable methods to foster peace and stability in the region. Both ministers agreed to continue close collaboration and planned to meet in New York during the 81st session of the United Nations General Assembly. Prior to the onset of the Iran conflict on February 28, the Strait of Hormuz typically facilitated approximately 125 large commercial ships daily, encompassing tankers, gas carriers, bulk carriers, and container vessels, which constituted roughly 20% of the world's daily crude oil and liquefied natural gas supply.

Earlier this week, Reuters reported that the number of vessel transits through the Strait of Hormuz had plummeted to single digits per day over the weekend, according to preliminary ship tracking data released on Monday, significantly below the 10-day average of 14 vessels. The US has imposed a blockade on Iran-related shipping since mid-July, halting the export of Iranian crude oil.

In the Bab el-Mandeb strait, 24 and 27 commodity vessels navigated through on Saturday and Sunday, respectively, in contrast to an average of around 27 vessels across the last ten days.