Panama Canal: The impact of the ongoing war between US and Iran is being seen across the world. Due to this, the movement of crude oil is being greatly affected. Due to which its prices are continuously increasing all over the world including India. However, many other small countries are also taking advantage of this war. Crores of rupees are being recovered here on the movement of crude oil in the name of war.

Which country is doing the recovery?
Actually, due to war, there is Hormuz Block, due to which oil and gas ships are going through another route. This second route is the Panama Canal, but this route is also not easy for these ships. In fact, a good amount is being recovered from them after going through this route. Ships are being auctioned to leave from here, in which the bid is reaching about 4 million dollars i.e. 37 crore rupees in Indian currency. Due to which the Panama Canal is becoming silver only.

Recovery in the name of priority access
At present, companies are charging 4 million dollars for a ship, whereas earlier it used to cost 3 to 4 lakh dollars for ships to pass through this canal, but now heavy recovery is being done in the name of priority access. Earlier, there used to be an extra expenditure of two and a half to three lakh dollars on a fast-track slot, but these days the situation is such that the extra expenditure has increased to more than 4.25 lakh dollars.

Let us tell you that about 20 percent of the oil for world consumption passes through the Strait of Hormuz. This oil directly reaches Gujarat state of India, from where it is supplied to other cities. At present this movement is stopped due to America-Iran war. Because of which the Canal Authority of the Government of Panama is earning a lot.