Diversifying and Destroying Demand: How India Managed Its Energy Needs Amid Iran War | Today’s news

Supplies from Saudi Arabia have been cut off because a key shipping route from the Persian Gulf, the Strait of Hormuz, has been blocked. Furthermore, the share of Iraq, a key supplier to India, fell sharply from 18% to 3%. Meanwhile, several countries’ share of India’s oil import basket increased, notably Iran and Venezuela, both of which included tacit US approval for India to increase its oil purchases.