3 Things Iran crisis' impact on oil, India-Canada uranium deal, and unseating Om Birla
Mar 9, 2026
Amitabh Sinha, a policy and energy journalist at The Indian Express, explains India’s uranium needs and a new Canada supply deal. Sukalp Sharma, an energy and aviation reporter, unpacks disruptions in the Strait of Hormuz and rising oil, LNG and LPG risks. They also discuss measures to secure supplies and the diplomatic stakes behind energy sourcing.
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Hormuz Supplies Large Share Of India's Fuel
- About 40% of India's oil imports transit the Strait of Hormuz and dependency rose to about 50% after cutting some Russian oil.
- LNG dependency is higher: roughly 55% of LNG and over 80% of LPG imports pass through Hormuz, magnifying supply risk when shipping stalls.
India's Fuel Stocks Provide Short Term Cushion
- India initially had about 25 days of crude stocks and 25 days of major petroleum products, later assessed at roughly eight weeks of essential fuel buffer.
- Supplies improved as non-Hormuz sources continued and India ramped up Russian imports, easing immediate shortages.
US Waiver Lets India Tap Floating Russian Barrels
- The US issued a temporary 30-day waiver allowing Indian refiners to tap Russian crude already at sea rather than new loadings from ports.
- Indian officials say industry had been accessing existing floating Russian barrels and the waiver addresses US legal/regulatory requirements.