India’s first attempt to bring back Iranian oil in seven years has hit a major snag. With four million barrels of crude sitting just miles from Indian refineries, the fear of U.S. sanctions is keeping the oil on the ships. As a critical Sunday deadline fast approaches, the “waiting game” at sea highlights the high stakes of global energy politics and the risks of trading in a time of war.
With global oil supplies under threat and the Strait of Hormuz effectively a battleground, the Indian Navy has deployed over six warships to escort its fuel tankers to safety. Following direct talks between PM Modi and the Iranian leadership, Indian ships are among the few granted passage, providing a vital boost to India’s domestic energy security as fuel prices surge worldwide.
