The Aam Aadmi Party (AAP) MP has said that the ongoing conflict "poses serious risks" for India's trade, economy and energy security, as crude prices shot up due to uncertainty in maintaining safety over global shipping routes.
US forces seized a Russian-flagged tanker in the Atlantic after a weeks-long chase, prompting criticism from Russia and China. Donald Trump declined to confirm contact with Vladimir Putin, while the White House said it will continue targeting sanctioned oil shipments.
Driven by falling gold and crude oil shipments, India's merchandise imports show a declining trend in June 2025; however, exports remained flat, said Global Trade Research Initiative (GTRI) in its latest analysis.
The US imposed sanctions on Wednesday on Shandong Shengxing Chemical Co., Ltd, a Chinese refinery, for buying over USD 1 billion worth of Iranian crude oil.
While the focus remains on the western Pacific and the South China Sea, because of the China-US direct interests, the Indian Ocean is a major geopolitical theatre. Several key energy-producing countries, such as Saudi Arabia, Iran, Iraq, Qatar and the UAE are located in the region. More t