India Welcomes US–Iran MoU, Says Strait of Hormuz Opening Will Strengthen Global Energy Security

India on Tuesday welcomed the US–Iran Memorandum of Understanding (MoU) aimed at ending hostilities in West Asia, with National Security Adviser Ajit Doval stating that the development will significantly improve global energy security , ease supply chain disruptions, and stabilise international markets.

Speaking at the BRICS National Security Advisers (NSA) meeting in New Delhi, Doval said India has a “cautious optimism” about the agreement and hopes it will help sustain peace and stability in the region.

A key element of the MoU is the reopening of the Strait of Hormuz , a crucial maritime route through which a significant portion of global crude oil and liquefied natural gas (LNG) is transported.

Doval described the opening of the Strait as a “very welcome development” , noting that it would help remove supply chain bottlenecks and address shortages in essential sectors such as fertilisers and chemicals .

He said the global economy is currently facing a challenging environment marked by geopolitical uncertainties, economic strains, and disruptive technologies , making stable energy routes more important than ever.

“Multilateralism is on the decline,” Doval said, adding that existing global institutions are increasingly struggling to manage or resolve conflicts effectively. He stressed that BRICS has a significant role in promoting stability, cooperation, and conflict resolution in the evolving global order.

He also highlighted the origins of BRICS, stating that the grouping was conceived as an informal platform of emerging economies aimed at building a multipolar world order , strengthening economic cooperation, and amplifying the voice of the Global South.

Doval said BRICS today represents nearly 49.5 per cent of the global population, 40 per cent of global GDP, and 26 per cent of global trade , giving it a strong platform to influence global outcomes.

He further emphasised that the world is witnessing compounding security threats , including non-traditional risks such as those arising from disruptive technologies , which require coordinated international responses.

“These threats transcend national borders and cannot be addressed through conventional mechanisms alone,” he said, calling for greater collaboration among member countries.

Meanwhile, the Ministry of External Affairs (MEA) said that 11 India-bound vessels have already transited through the Strait of Hormuz following the signing of the MoU on June 17.

MEA spokesperson Randhir Jaiswal said India currently has around 10 Indian-flagged vessels in the Persian Gulf region, while additional ships carrying crude oil, LPG, and fertilisers are also operating in the area.

He added that India’s energy sourcing strategy is guided by national interest , with a focus on ensuring affordable and secure energy supplies for its population of 1.4 billion people.

“The priority is to ensure energy access at stable prices and from diversified sources,” Jaiswal said.

India also reiterated its continued engagement in West Asia, including humanitarian assistance to Palestine and strengthening defence cooperation with the UAE.