India Embarks on Ambitious Strategy to Secure Energy Supplies Amid Global Oil Market Turmoil

New Delhi: At a time when the global oil market is in turmoil due to the deadly military conflict in the Middle East between the US, Israel, and Iran, the Indian government has embarked on a highly ambitious strategy to keep its energy supplies intact. According to a sensational report released by rating agency Moody's, the world's leading oil importing countries, including India, are going to establish a new alternate transit corridor through direct bilateral negotiations with Iran. India is using diplomatic channels to securely import crude oil through this route amid tightening US sanctions and fears of war. In this global report on threats, Moody's has expressed a clear apprehension that the current 2026 year is unlikely to see the restoration of pre-war normalcy. The Strait of Hormuz, the most important for maritime trade between the US and Iran, is unlikely to be fully opened due to the ongoing direct military confrontation, which has led to a 90% drop in traffic rates in countries like China, Japan, and South Korea.