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.
Iran has appointed Mojtaba Khamenei to lead the nation following his father’s death, even as a widening war with the U.S. and Israel devastates its military and economic infrastructure. With civilian water and oil facilities now under fire and thousands of diplomats fleeing the region, the conflict has reached a point of no return, threatening to permanently reshape the Middle East.
