India Activates ‘Plan B’ Amid Fears of Strait of Hormuz Closure: No Threat to Fuel Supplies, Says Petroleum Minister Hardeep Puri

New Delhi | June 23

Amid rising geopolitical tensions in West Asia, India has assured its citizens that a potential closure of the Strait of Hormuz by Iran will not disrupt the country’s oil and gas supply. Petroleum and Natural Gas Minister Hardeep Singh Puri said India has diversified its energy sources and is fully prepared with contingency measures to ensure uninterrupted fuel availability.

Why the Strait of Hormuz Matters

The Strait of Hormuz is a critical maritime chokepoint through which nearly one-fifth of the world’s oil and gas supplies pass. India sources a significant share of its crude oil imports via this route. Following recent U.S. airstrikes on Iranian nuclear facilities, there are growing concerns that Iran could retaliate by blocking the strait, raising alarm over possible global energy disruptions.

India’s contingency plan

“We’ve been closely monitoring the situation in the Middle East for the past two weeks,” Minister Puri said. “Under the leadership of Prime Minister Narendra Modi, India has significantly diversified its sources of oil imports. Our oil companies have enough inventory to last several weeks, and we’re no longer solely dependent on the Strait of Hormuz for energy needs.”

He further assured that the government is ready to take all necessary measures to maintain stable fuel supply for the public.

Also read: US Airstrikes on Iran’s Nuclear Sites: B-2 Bombers Hit Natanz, Isfahan, and Fordow in Midnight Hammer Operation

Impact on prices?

When asked whether global oil prices could surge due to the situation, Puri said,

“Price trends are hard to predict. However, there is enough oil available in the international market, and traditional suppliers are likely to continue exports, they need the revenue, too.”

He added that markets could reflect volatility when they open on Monday, but expressed hope that global trade flows would remain stable.

Russia as a key alternative source

India has ramped up crude imports from Russia, which has become a key alternative supplier. The trade, driven by global price trends and discounts, offers India a cushion in times of supply uncertainty. According to sources, if international oil prices breach the $105 per barrel mark, the government may consider reducing excise duties to manage retail prices.

Expert opinion

Energy analysts warn that the oil and gas market remain highly sensitive to disruptions. “If the Strait of Hormuz remains closed for more than a week, the global economy will feel the impact and so will India,” said one energy market expert.

While India’s preparedness may provide short-term relief, much depends on how the situation in the region evolves in the coming days.