Iran has granted special permits to some Iraqi oil tankers seeking to pass through the Strait of Hormuz. With passage through the Strait of Hormuz, a key crude oil shipping lane in the Gulf, heavily restricted amid U.S.-Iran tensions, Iran made an exception for Iraq, which has faced disruptions to its oil exports. However, the number of permitted vessels and the actual passage schedule were not disclosed.

Reuters reported on the 22nd, citing Iran’s state-run IRNA, that Iran issued special permits for some Iraqi oil tankers to transit the Strait of Hormuz. IRNA said the move followed repeated requests by the Iraqi government through various diplomatic channels for its tankers to pass.

Iraq recently renewed its request for passage permission on the occasion of a visit by a senior Iranian official. On the 19th, Iraq’s parliament speaker Haibat Al-Halbousi met with Iran’s parliament speaker Mohammad Bagher Ghalibaf, who visited Baghdad, and asked for a “special status” for Iraqi oil exports through the Strait of Hormuz. Al-Halbousi said Iraq is among the countries most harmed by the regional situation and called for measures to protect economic interests.

Iraq is clinging to passage through the Strait of Hormuz because a significant portion of its oil exports depends on this route. Before the war broke out, Iraq exported about 3.4 million barrels of crude per day from the south, and this volume passed through the Strait of Hormuz. Oil sales account for about 90% of Iraq’s federal budget revenue. With exports through the Strait of Hormuz blocked, Iraq’s oil revenue fell from $6.8 billion in February to about $2.3 billion in May and June, respectively.

The Strait of Hormuz is a key global energy corridor linking the Persian Gulf and the Gulf of Oman. Before the war began in February, about one-fifth of the world’s crude oil and liquefied natural gas (LNG) shipments passed through it. More than 130 vessels traveled daily, but recent traffic has dropped to single digits.

Iran also said in April that Iraqi vessels would be excluded from restrictions on transiting the Strait of Hormuz. However, after a cease-fire agreement between the United States and Iran collapsed and clashes involving ships continued, the restrictions were tightened again.

Source: Chosun