Diversified Routes Thwart Hormuz Crisis Threat – India Shields Fuel Lifeline

Strait Under Siege: Iran’s Threat and Global Alarm

Hormuz Crisis- The Strait of Hormuz, a narrow maritime chokepoint between the Persian Gulf and the Gulf of Oman, has once again become the epicentre of global anxiety. Following the U.S. airstrikes on Iran’s nuclear facilities under Operation Midnight Hammer, Tehran’s parliament approved a motion to close the strait, a move that could choke nearly 20% of the world’s oil and 30% of its LNG trade.

This escalation comes at a time when the global economy is already grappling with inflationary pressures and geopolitical instability. Analysts warn that a prolonged closure could send oil prices soaring to $200 – $300 per barrel, triggering a crisis reminiscent of the 1973 oil embargo. For India, which imports over 85% of its crude oil and nearly half of its natural gas, the Strait of Hormuz has historically been a vital artery.

However, this time, the narrative is different.

India’s Energy Firewall: Diversification in Action

Union Petroleum Minister Hardeep Singh Puri swiftly addressed public concerns, assuring that India’s fuel supply remains “stable and secure” despite the looming threat. In a statement posted on X, Puri emphasized that under Prime Minister Narendra Modi’s leadership, India has significantly diversified its energy imports over the past few years.

“We have diversified our supplies in the past few years and a large volume of our supplies do not come through the Strait of Hormuz now,” Puri stated.

India currently imports around 5.5 million barrels of crude oil per day, with approximately 2 million barrels transiting through the Strait. But thanks to strategic sourcing from Russia, the U.S., Brazil, and West Africa, India has reduced its dependence on Middle Eastern routes. Russian oil, for instance, reaches Indian ports via the Suez Canal or the Cape of Good Hope, bypassing Hormuz entirely.

Moreover, India’s Oil Marketing Companies (OMCs) reportedly have reserves to last several weeks and continue to receive shipments through multiple channels. LNG imports, primarily from Qatar, Australia, and the U.S., also remain unaffected by the Strait’s potential closure.

This proactive diversification has not only insulated India from immediate shocks but also positioned it as a model for energy resilience in the Global South.

Diplomacy and Deterrence: India’s Balancing Act

While ensuring domestic energy security, India is also playing a delicate diplomatic role. Prime Minister Modi held a 45-minute phone call with Iranian President Masoud Pezeshkian, urging restraint and emphasizing the need for dialogue and de-escalation. Modi reiterated India’s commitment to peace and thanked Iran for facilitating the safe return of Indian nationals from the region.

India’s response reflects a nuanced strategy, assertive in safeguarding national interests, yet cautious in navigating the complex web of Middle Eastern alliances. With strong ties to both the U.S. and Iran, India is uniquely positioned to advocate for stability without taking sides.

Meanwhile, global markets remain jittery. Brent crude prices have already surged by over 10%, and any further disruption could ripple across industries, from aviation and manufacturing to agriculture and logistics. Yet, India’s calm and calculated approach offers a rare glimmer of hope in an otherwise volatile landscape.

Conclusion:
As the world braces for the fallout of Iran’s Hormuz gambit, India’s diversified energy strategy stands as a testament to foresight and resilience. While the threat is real and the stakes are high, the nation’s preparedness, both in reserves and diplomacy, offers reassurance. In a world increasingly defined by uncertainty, India’s steady hand on the energy tiller may well be its greatest strength.

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