The US has imposed sanctions on Russian oil giants Rosneft and Lukoil, raising the risk of secondary sanctions on countries and companies that continue to trade with them. India, a major importer of Russian crude, faces challenges as its refiners rely on US dollars, global financial systems, and insurance services for oil transactions. While there are no direct sanctions on Russian oil, the threat has prompted India to reconsider imports, diversify energy sources, strengthen domestic production, and expand renewable energy. The government and refiners are exploring risk mitigation strategies to maintain energy security while balancing economic and diplomatic interests.
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Chabahar Port is vital for India’s regional influence, trade, and connectivity. Despite US sanctions and West Asia’s geopolitical challenges, India must persist diplomatically to secure access, ensuring the port’s continuity as a symbol of independent foreign policy and regional stability.
Click to View MoreIndia and Iran relations centered on energy needs and regional connectivity projects like Chabahar Port and INSTC. Economic cooperation faces challenges due to international sanctions on Iran. India navigates balancing relations with other regional powers while acknowledging the importance of strengthening its strategic partnership with Iran.
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