West Considers Russian Oil Purchases Amid Middle East Supply Disruptions
Global oil markets face unprecedented strain as Iran's blockade of the Strait of Hormuz slashes maritime traffic by 95% in early March. The supply shock has sent prices soaring, forcing Western nations to reconsider longstanding energy policies.
Rystad Energy's Janiv Shah reveals advanced discussions about sourcing Russian crude through third-party channels. This strategic pivot follows the US Treasury's authorization for India to procure Russian oil shipments within 30 days - a notable reversal from previous demands that New Delhi cease such imports.
The proposed solution would see Western nations indirectly acquire Russian hydrocarbons processed in India and other intermediary states. While no official announcements have emerged, industry insiders confirm these contingency plans could activate within weeks if Middle East tensions persist.
