Oil prices are going up and down across the world amid the Iran-America-Israel war and tension in the Strait of Hormuz. In such a situation, US Ambassador to India Sergio Gore has intensified the stir by tweeting on X. He wrote that India has been a big partner in keeping oil prices stable in the world. America believes that India’s continuous purchase of oil from Russia is also a part of this effort.
It is necessary for America and India to work together
Sergio Gore said, ‘The United States believes that the continued purchase of oil from Russia is a part of this effort. India is one of the largest consumers and refiners of oil and it is important for the United States and India to work together to ensure market stability for Americans and Indians.
This statement has come at a time when there is great turmoil in the global oil market due to the Iran crisis. There is a threat to oil supply due to the closure of the Strait of Hormuz, due to which prices may increase. India is the world’s third largest oil importer and refiner, so the policy here impacts the global market.
Russian oil purchase described as market stability
Ambassador Gore described India’s oil purchases from Russia as part of ‘market stability’, which is an important point amid US-Russia-Ukraine tensions. Earlier America has been talking to India about reducing Russian oil, but now this tweet shows that America is ready to work together with India.
India is strengthening supply chain in global crisis
This tweet shows the strength of India-US energy partnership, especially when Trump has recently included Reliance in a $300 billion refinery project in Texas. This is good news for India because it is getting cheap oil from Russia and it is helping in keeping the supply chain strong in the global crisis.
