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- 📢 $MORE is launching on Gate Alpha!
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Iran is considering closing the Strait of Hormuz, and India is increasingly purchasing oil from other sources.
Gate News bot message, The New York Times reported that as Iran considers closing the Strait of Hormuz, India is increasingly buying oil from other sources to reduce its dependence on the Middle East.
As one of the world's largest oil importers, India is purchasing cheap oil from Russia, which has displeased Europe and the United States. They are buying more energy from the United States. "Now, a significant portion of our oil supply no longer passes through the Strait of Hormuz," said Indian Minister of Petroleum and Natural Gas Hardeep Singh Puri.