OIL & GAS

How India got caught in the US-Iran standoff

US President Donald Trump’s assertion that slain Iranian military commander Qassim Suleimani was also responsible for the 2012 bombing of an Israeli diplomat’s car in New Delhi has pulled India into the middle of escalating hostilities between Washington and Tehran.

So how did India find itself in the middle of a muddle?
Slippery slope: Even though India stopped importing Iranian crude oil after a US ultimatum, the West Asian region remains New Delhi’s largest crude oil supplier, with Iraq, Saudi Arabia, UAE and Kuwait among the largest oil exporters to India.

A war will not only damage India’s oil supply lines — it imports 84% of its oil needs — but will also raise associated costs, such as the insurance cover for oil tankers. Read More

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