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BTCC / BTCC Square / WatcherWGuru /
West Considers Russian Oil Purchases as Iran-Israel Conflict Chokes Global Supply

West Considers Russian Oil Purchases as Iran-Israel Conflict Chokes Global Supply

Author:
WatcherWGuru
Published:
2026-03-10 16:02:00
20
1

The West is actively exploring purchases of Russian crude oil to alleviate severe market shortages triggered by Iran's blockade of the Strait of Hormuz, a senior Rystad Energy executive revealed Tuesday. This potential policy reversal follows a U.S. Treasury license granted to India for seaborne Russian oil imports, signaling a pragmatic shift to stabilize supply chains amid a 95% drop in shipping traffic and soaring prices.

West Mulling To Buy Russian Oil, Says Janiv Shah

crude oil

Source: Moneycontrol

The blockade of the passage is making the West mull buying Russian oil, said Shah.

He added that the Russian supply is now the only choice to keep the economy afloat. Shah said that the West could begin producing oil routed from India and other countries. “the expert added.

If the West begins to buy Russian oil from other channels, it would be a reversal of the previous policies. However, no country in the West has publicly made an announcement on this matter.

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