Indian refiners pivot to Russian crude as Iran crisis threatens supply. State-owned refiners and government officials met to develop contingency plans following potential disruptions through the Strait of Hormuz, which handles roughly half of India's oil imports. With Iranian flows nearly halted, India is reconsidering Russian crude purchases despite recent US pressure and a trade deal that reduced tariffs. India currently holds two weeks of oil supplies across commercial and state reserves. Officials are exploring multiple alternatives including tapping strategic petroleum reserves, accelerating Venezuelan imports, and requesting Saudi Aramco increase pipeline shipments to the Red Sea. If the crisis persists, the government may restrict fuel exports to prioritize domestic consumers and redirect industrial users to alternative energy sources.
