Russia says it can meet India’s energy needs if Hormuz disruptions continue

Russia has said it is prepared to meet India’s energy requirements if disruptions to oil and gas supplies continue amid escalating tensions in West Asia.

An official from the Embassy of the Russian Federation said on Monday that Moscow was ready to step in if prolonged disruptions affect India’s energy imports.

“We are ready to fulfill demands of India’s energy needs in case of continued disruption of energy supplies,” the official told PTI.

Concerns over energy supplies have intensified after Iran blocked the Strait of Hormuz, a key shipping route for international trade.

The situation has also been complicated by developments in Qatar. QatarEnergy suspended liquefied natural gas (LNG) production and related products on March 2 after an Iranian drone struck critical infrastructure at Ras Laffan Industrial City and Mesaieed Industrial City.

India depends on the West Asia region for a significant share of its crude oil and LNG imports. However, in recent years it has diversified its sourcing and increased purchases from Russia.

Amid the rising tensions, the Ministry of Petroleum and Natural Gas said on Monday that the country has adequate supplies to manage short-term disruptions.

The ministry said India remains well stocked with crude oil and inventories of key petroleum products, including petrol, diesel and automatic transmission fluid (ATF).

“India has ensured both availability and affordability of energy for its population by diversifying its sources. Indian energy companies now have access to energy supplies that are not routed through the Strait of Hormuz,” the ministry said.