Petroleum Minister, Hardeep Puri assures citizens that India has reduced its dependence on Hormuz; alternative sources like Russia ensure stable fuel supply
23 June 2025, New Delhi
Amid rising geopolitical tensions in West Asia, fears of a possible closure of the Strait of Hormuz have sparked global concern. However, the Indian government has reassured its citizens that the country’s energy supplies will remain unaffected.
Union Petroleum and Natural Gas Minister Hardeep Singh Puri on Sunday said India is well-prepared for any potential disruption. He emphasized that the country is no longer fully dependent on the Strait of Hormuz and has diversified its oil import sources in recent years.
Why the Strait of Hormuz Matters
The Strait of Hormuz is a vital global shipping route, responsible for nearly 20% of the world’s oil and gas transport. A significant portion of India’s crude oil imports also pass through this route. Tensions have escalated following recent U.S. airstrikes on Iranian nuclear sites, raising fears that Iran could retaliate by closing the strait.
India’s Backup Plan
“We’ve been closely monitoring the situation in the Middle East for the past two weeks,” said Puri. “Under the leadership of Prime Minister Narendra Modi, we have diversified our sources of oil. Our companies hold weeks of sufficient reserves, and our supply chain is no longer solely reliant on the Strait of Hormuz.”
He added that the government is fully prepared to take any necessary steps to ensure that the public does not face any fuel shortages.
Will Fuel Prices Rise?
When asked about the impact on fuel prices, Puri responded, “It’s difficult to predict prices in advance, but the international market still has enough supply. Exporting countries are interested in maintaining supply because they depend on revenue.”
He added that market reactions to the Hormuz situation will be visible once trading opens on Monday, but he remains hopeful that global oil prices will remain stable.
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Russia Emerges as a Key Alternative
India has significantly increased its crude oil imports from Russia, which are influenced by global prices and available discounts. Sources suggest that if crude oil crosses $105 per barrel in the international market, the Indian government may consider reducing excise duties to cushion the impact on consumers.
Energy analysts believe the oil and gas market is extremely sensitive. If the Strait of Hormuz remains closed for more than a week, it could affect not just the global economy but also India. However, they also acknowledge that India’s current preparedness and strategy provide a strong buffer against short-term disruptions.
