New Delhi: Russia has reiterated its willingness to supply crude oil to India as global energy markets face renewed volatility due to escalating tensions in West Asia. The statement comes at a time when international oil and gas prices have surged sharply following disruptions around the Strait of Hormuz, one of the world’s most crucial energy shipping routes.
The narrow waterway connecting the Persian Gulf to the Gulf of Oman carries nearly one fifth of global oil and liquefied natural gas shipments. Recent developments in the region have led to heightened uncertainty around tanker movements and energy supplies, pushing prices upward and raising concerns for countries that rely heavily on imported fuel.
India is particularly vulnerable to such disruptions as it imports nearly 88 percent of its crude oil requirements and about half of its natural gas needs. A large share of these shipments typically passes through the Strait of Hormuz. Any prolonged instability in the region could therefore affect India’s energy supply chain and economic stability.
Amid these concerns, Russia indicated that it remains prepared to provide crude oil to India if required. Moscow has previously emerged as a key supplier for Indian refiners, particularly in recent years when discounted Russian crude became a significant component of India’s import mix.
The geopolitical landscape, however, has grown increasingly complex following the military strikes launched by the United States on Iran on February 28. The attacks led to the death of Iran’s Supreme Leader Ali Khamenei and triggered a wave of retaliatory strikes by Iran targeting Israel and American military installations in several Gulf countries including the United Arab Emirates, Bahrain, Kuwait, Jordan and Saudi Arabia.
Over the past few days, the conflict has escalated further with a series of attacks and counterattacks across the region. The instability has contributed to rising energy prices and renewed uncertainty in global markets.
At the same time, India’s imports of Russian crude have declined in recent weeks amid international pressure and shifting diplomatic dynamics. Despite this, New Delhi has maintained that it will continue sourcing oil from a wide range of suppliers. Officials have repeatedly emphasised that energy procurement decisions are guided primarily by national interest and the need to maintain a stable and diversified supply chain.
Sorry, there was a YouTube error.
