India, April 18 -- Iran's decision on Friday to reopen the Strait of Hormuz is a welcome development for India, which depends on the waterway for almost 50% of its oil imports, especially after the widespread disruptions in energy supplies because of the West Asia conflict. Follow latest news on Iran-US war

The decision, which Iranian foreign minister Seyed Abbas Araghchi will be valid for the remaining period of the Iran-US ceasefire, will allow some 15 Indian-flagged and owned merchant vessels currently to the west of the strait to transit the waterway and return to the country.

There was no immediate response from Indian officials to the Iranian move, believed to be part of a package being worked out between Tehran and Washington as ...