India Refutes Claims of Payments to Iran for Strait of Hormuz Passage
India denies cash, crypto payments to Iran for Hormuz passage
The Economic TimesImage: The Economic Times
India has denied reports of making cash or cryptocurrency payments to Iran for safe passage through the Strait of Hormuz, following an incident where two Indian vessels were fired upon by Iranian forces. The Indian government labeled these payment claims as fake news, linking them instead to a cryptocurrency scam targeting shipowners.
- 01India denies any payments to Iran for vessel passage through the Strait of Hormuz.
- 02Two Indian vessels were forced to turn back after being fired upon by Iranian forces.
- 03The Indian government attributes payment claims to a cryptocurrency scam targeting shipowners.
- 04Sanmar Shipping, operator of one affected vessel, confirmed no payments were made.
- 05The Strait of Hormuz is a critical global energy route, impacting oil and gas supply.
Advertisement
In-Article Ad
On Wednesday, India firmly rejected allegations of making cash or cryptocurrency payments to Iran for safe passage of its vessels through the Strait of Hormuz, a vital maritime route for global energy supplies. This denial follows an incident on April 18, when Iranian forces fired upon two Indian vessels, including the tanker Sanmar Herald, which had received prior clearance to navigate the strait. Reports suggested that the vessel's captain pleaded with Iranian forces to cease firing, emphasizing the urgency of the situation. Mukesh Mangal, Additional Secretary in the Ministry of Ports, Shipping and Waterways, labeled the payment claims as fake news, asserting that they stemmed from a cryptocurrency scam targeting shipowners. The shipping company, Chennai-based Sanmar Shipping, also denied any payments, stating that they are coordinating with Indian government agencies to ensure safe passage. The Strait of Hormuz is crucial, handling about 20% of the world's oil and liquefied natural gas flows, and disruptions in this area have significant global repercussions, including rising energy prices and fuel shortages.
Advertisement
In-Article Ad
The situation affects Indian shipping operations and could lead to heightened tensions in the region, impacting energy prices worldwide.
Advertisement
In-Article Ad
Reader Poll
Do you think India should enhance its naval presence in the Strait of Hormuz?
Connecting to poll...
Read the original article
Visit the source for the complete story.



