oil markets

Why is Iran exempting India, China, Qatar, Iraq from Hormuz restrictions?

Iran has exempted ships from India, China, Iraq and Qatar from its Strait of Hormuz restrictions, according to a senior Iranian lawmaker. Tehran says it receives medicine from India, political backing from China, and transit fees, while Qatar mediates. Analysts warn the deals carry political risks and their effectiveness depends on US acceptance of the move amid a naval blockade.