The escalation in the Israel-Iran conflict and Tehran’s threat to close the Strait of Hormuz are likely to push Indian refiners to further ramp up oil purchases from non-West Asian suppliers — mainly Russia, West Africa, the US and Latin America — as shipping routes to Indian ports from these suppliers are detached from the critical choke point in the Persian Gulf, according to industry sources and experts.
Hours after the U.S. struck three prominent nuclear sites in Iran, Prime Minister Narendra Modi on Sunday (June 22, 2025) spoke with the President of Iran, Masoud Pezeshkian, and called for “immediate de-escalation”.
The United Nations Security Council will hold an emergency open briefing followed by closed consultations to address the ongoing Iran Israel conflict. Israel’s strikes on Iranian nuclear and military sites and Iran’s retaliatory missile attacks has entered it’s 8th day with no de-escalation in sight.
