Amidst war with America, Iran opened ‘treasure’ for India, after 7 years sent that special gift for which the world is crazy.

The smell of gunpowder has spread in the Middle East and along with missiles, the war of words is also intensifying between America and Iran. President Donald Trump’s claims of ending the war are currently proving to be hollow. Looking at the strength with which Iran is standing, it does not seem that this fight will stop soon. In such a situation, the matter of concern for India is the skyrocketing prices of crude oil and the supply from the ‘Strait of Hormuz’. But it is a miracle of India’s diplomacy that even in this period of crisis, there has been no shortage of oil and gas in the country. India is now bringing oil through routes that no one had imagined – be it importing LPG from Argentina, 20 thousand kilometers away, or the ‘precious’ gift it received from Iran after 7 years.

Iran supported in difficult times

Iran has proved that it is a reliable friend of India. For the first time since 2019, a large consignment of crude oil has left for India from Iran. Iran has sent 6 lakh barrels of crude oil from its Kharg Island. A ship named ‘Ping Shun’ is moving towards Vadinar port of Gujarat with this oil and will reach the Indian coast this week. Actually, America has lifted the ban on the sale of Iranian oil for 30 days and India took advantage of this opportunity without wasting any time. This is no less than a lifesaver for India, because being moved by the humanitarian help sent by the people of Kashmir, Iran has also opened the doors of Hormuz for Indian ships.

Big consignment of LPG reached India

Despite the ongoing threat in the Strait of Hormuz, India has secured its energy needs. Two big tankers carrying 94,000 tonnes of LPG from the United Arab Emirates (UAE) have reached India safely. The ship ‘BW TYR’ reached Mumbai on 31 March, while ‘BW ELM’ anchored at New Mangalore Port on 1 April. These ships have brought gas from Ras Al Khaimah in UAE, which is expected to provide great relief to the domestic gas supply.

Russia: The friend who diverted ships going towards China to India

The world once again saw the example of friendship between India and Russia. When India was in trouble due to the Iran War, Russia sent its ships laden with oil towards India. See the zenith of friendship – the Russian ships which were going towards China with oil, took a U-turn in the middle of the sea and turned towards India. India’s oil imports from Russia reached a 9-month high (19.6 lakh barrels per day) in March. Interestingly, Indian companies are now also paying a premium (additional price) of $6-7 per barrel for Russian oil, because ensuring supply is the first priority in times of crisis.

How did war spoil the mathematics of supply?

The effect of the heat of war is clearly visible in the figures. India’s total crude oil imports fell to 4.45 million barrels in March, from 5.17 million barrels in February. Supply from traditional suppliers of the Middle East such as Qatar, Kuwait and Saudi Arabia has been affected. Imports from Iraq have fallen by 75%. There has also been a huge decline in arrivals from Saudi Arabia and UAE. To meet this deficit, India has turned to Russia and other countries.

India is collecting oil from every corner of the world

To ensure that there is no disruption in supply, India is now buying oil and gas from more than 41 countries. India has increased its imports from Angola three times to 3.33 lakh barrels. Purchase from America has also been increased to 1.67 lakh barrels per day. Apart from this, India is also busy in filling its ‘oil reserve’ by importing oil from countries like Australia, Argentina and Norway, so that the country’s progress does not stop even in the event of a global war.