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News:India has recently attended the Hormuz Peace Initiative that was held in Tehran,Iran.
Facts:
About Hormuz Peace Initiative:
- The initiative was organized by Iran.It was attended by leading trade partners of Iran namely China, Oman, India and Afghanistan.
- It aims at stabilizing one of the world’s busiest shipping lane, the Strait of Hormuz in the backdrop of US-Iran tensions.
- The initiative reviewed the developments in the Persian Gulf region and evaluated the regional cooperation plans under the ‘Hormuz Peace Endeavor’ (HOPE).
About ‘Hormuz Peace Endeavor’(HOPE):
- The HOPE was proposed by Iranian President at UN General Assembly meeting in September,2019.
- It aimed at enhancing solidarity, mutual understanding as well as peaceful and friendly relations among countries in the region in order to guarantee the territorial integrity and political independence of regional states.
About Strait of Hormuz:
- The Strait of Hormuz lies between Oman and Iran.It links the Persian Gulf north of it with the Gulf of Oman to the south and the Arabian Sea beyond.
- On the north coast lies Iran and on the south coast of the United Arab Emirates and Musandam, an exclave of Oman.
- It is 21 miles (33 km) wide at its narrowest point, with the shipping lane just two miles (three km) wide in either direction.
- It is considered as the world’s most important oil artery. Almost a fifth of the world’s oil passes through the Strait. According to data from analytics firm Vortexa some 17.2 million barrels per day (bpd) pass through it.
