The country that will benefit the most from Trump’s war on Iran
The Independent • • world
Key Points:
- The closure of the Strait of Hormuz due to Middle East conflict has increased the value of Russian oil for India and China, two of the world's largest energy importers heavily reliant on Gulf supplies.
- With Gulf oil supplies blocked, India and China are turning to Russian crude, which is readily available by tanker to India and pipeline to China, despite previous US pressure on India to reduce Russian imports.
- India, which imports over 88% of its oil and nearly half from Gulf states, is reportedly increasing Russian oil purchases amid supply disruptions, although political considerations with the US remain a factor.
- China has already increased Russian crude imports via pipeline, compensating for reduced supplies from Venezuela and Iran due to US sanctions, with further increases expected if the
