Syllabus: GS-II
Subject: International Relations
Topic: Global issues
Issue: Red Sea Crisis.
Context: India’s crude oil imports from the US halted due to Red Sea crisis, prompting a shift to West Asian suppliers.
Synopsis:
- US crude supply to India reduced due to Red Sea disruptions and high freight rates, making Persian Gulf suppliers more favourable.
- Iraq became a primary source, reaching a high, followed by UAE and Saudi Arabia
- Russia, the largest supplier to India, experienced a 5.6% increase in imports.
- India, heavily reliant on oil imports, pivoted towards Russian oil following Western sanctions post-Ukraine conflict.
Take away point:
| India is the world’s third-largest consumer of crude oil, relying on imports for over 85% of its needs. |
Red sea (Places in News):  |
