India and US Collaborate to Shield Oil Supply Amid Gulf Crisis

India is negotiating with the US to ensure marine insurance for oil shipments from the Middle East to protect against potential disruptions. With 40% of its oil imports from this region, India seeks to expand sources, including Russia and the US, while managing refinery operations and gas imports strategically.

India is deep in negotiations with the United States to secure marine insurance coverage for vessels transporting oil from the Middle East, aiming to protect against potential supply disruptions amid a regional crisis, as revealed by a government official on Thursday.

In response to the Gulf tensions, U.S. President Donald Trump has mandated the U.S. International Development Finance Corporation to offer political risk insurance and financial guarantees for Gulf maritime trade, and the U.S. Navy may escort vessels through the vital Strait of Hormuz.

Facing threats to oil imports, which significantly rely on the Gulf, India has bolstered imports from the U.S. and is diversifying sources. Efforts include discussions with various global oil companies to maintain energy supply levels and address reduced exports and halted gas supplies caused by Middle East turmoil.