‘Russia ready to supply crude oil to India’

Russia has reiterated that it remains open to supplying crude oil to India, Russian Ambassador Denis Alipov said on Thursday, amid growing concerns over rising global energy prices due to the escalating crisis in West Asia.

Global oil and gas prices have surged after Iran effectively blocked the Strait of Hormuz, a narrow but critical shipping route between the Persian Gulf and the Gulf of Oman. Nearly 20 per cent of the world’s oil and liquefied natural gas (LNG) shipments pass through this route, making the disruption a major concern for energy-importing nations.

India is heavily dependent on energy imports, meeting about 88 per cent of its crude oil demand and nearly half of its natural gas needs through imports. A large portion of these supplies usually passes through the Strait of Hormuz, making the country vulnerable to instability in the region.

Speaking to reporters, Ambassador Alipov said Russia has always been willing to supply crude oil to India, particularly during times of global market uncertainty.

The tension in West Asia intensified after the United States launched military strikes on Iran on February 28, in which Iranian Supreme Leader Ali Khamenei was killed. Since then, Iran has carried out retaliatory attacks targeting Israel and American military bases across several Gulf countries, including the UAE, Bahrain, Kuwait, Jordan and Saudi Arabia. The conflict has further escalated over the past few days with continued attacks from both sides.

Meanwhile, India’s crude oil imports from Russia have declined in recent weeks. US President Donald Trump had earlier claimed that India agreed to stop buying Russian crude as part of a trade arrangement, though New Delhi maintains it will continue sourcing oil from multiple countries to safeguard its energy security and national interests.