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India Seeks US Guarantees Amid Strait of Hormuz Tensions
New Delhi is in discussions with the U.S. regarding political risk insurance for vessels traversing the Strait of Hormuz, a critical chokepoint for Indian energy imports, according to a senior government official. The move comes after disruptions due to regional conflict halted cargo movement and triggered concerns over energy security.
- Key Imports: Approximately half of India’s 2.5-2.7 million barrels per day of crude imports transit the Strait.
- LNG Concerns: Half of India’s LNG imports also pass through Hormuz.
- Supply Security: Petronet LNG issued force majeure notices.
- US Support: The U.S. Development Finance Corporation (DFC) is ready to mobilize support.
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