Amid Gulf tensions, India turns to Russia, US for energy security

IN the shadow of escalating tensions between Iran and Israel, India has acted decisively to secure its energy interests. In a pre-emptive measure, Indian refiners ramped up crude oil imports from Russia and the US before the Iranian Parliament approved a measure to close the Strait of Hormuz, a vital chokepoint through which a fifth of the world’s oil passes. June figures suggest that India is set to import 2 to 2.2 million barrels per day (bpd) of Russian crude, the highest in two years, surpassing even combined purchases from traditional West Asian suppliers.

This energy pivot signals more than just a reaction to regional conflict. It is a reflection of the country’s growing energy pragmatism. As the world’s third-largest oil importer, India has diversified its sources, using price and geopolitical calculus to its advantage. With Russian crude being available at discounted rates due to Western sanctions and US shale oil offering flexibility in volumes, New Delhi is building resilience in its energy supply chain. India’s anxiety over potential gas supply disruptions, given its substantial long-term LNG contracts and diversified gas basket, is another indication that energy security is being increasingly viewed through a strategic, not just commercial, lens.

But this tactical shift also draws attention to the broader geopolitical tightrope India must walk. While deepening its energy ties with Moscow and Washington, India continues to engage diplomatically with West Asian partners. The real challenge will be to maintain this balance should hostilities in the region escalate further. The energy planners have done well to insulate the economy from supply shocks. But this approach must be supplemented by long-term investments in energy efficiency, storage capacity and a faster transition to renewables. In a volatile world, foresight, not just flexibility, will define energy security.

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