Vrinda Sahai
The U.S.-Israel strikes in Iran that began on February 28, 2026, triggered rapid Iranian retaliation, including drone strikes on U.S. facilities and missile launches across Gulf states. This broader violent disruption in West Asia has raised concerns over global oil supply chains, particularly the Strait of Hormuz, which transits around 34 percent of the world’s crude oil.
India is a highly oil-dependent state, making it vulnerable to global price shocks. Recent developments, including U.S. sanctions on Russian oil companies Rosneft and Lukoil, U.S. tariffs on countries trading with Iran, and the escalation of the crisis in the Strait of Hormuz, have revealed critical gaps in India’s oil security strategy.
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