Strait of Hormuz Closure Won’t Severely Impact India: Hardeep Singh Puri
New Delhi : Amid rising concerns over the reported approval by Iran’s parliament to close the crucial Strait of Hormuz a key global oil transit route Union Petroleum Minister Hardeep Singh Puri assured that India’s oil supply will not be severely affected.
Speaking to the media on Sunday, Puri stated, “A large volume of our supplies do not come through the Strait of Hormuz now.” He emphasized that India has diversified its oil import sources in recent years and is well-prepared to handle temporary disruptions.
Puri added that India’s oil marketing companies (OMCs) are adequately stocked, saying, “Our oil marketing companies have supplies of several weeks.”
The development follows reports that Iran’s parliament has approved a measure to close the Strait in response to alleged US attacks on its nuclear facilities. The strait, which lies between the Persian Gulf and the Gulf of Oman, is a chokepoint for nearly one-fifth of the world’s oil trade.
India, which imports over 80% of its crude oil needs, has in recent years reduced its dependence on Middle Eastern routes by sourcing oil from Russia, the US, and Latin America.
Global energy markets remain on alert as geopolitical tensions rise in the region.
