Indian refiners, including Indian Oil Corp and Mangalore Refinery and Petrochemicals Ltd, have suspended the loading of Iraqi crude oil. The move is a direct response to heightened security risks in the Strait of Hormuz.
The suspension comes amid increased hostilities between Iran and the United States. This has led to significant disruptions in tanker traffic through the critical chokepoint.
The Strait of Hormuz is witnessing its lowest traffic in two months. Iranian forces have reportedly targeted vessels, while the U.S. has conducted strikes on Iranian assets. India's energy security is now under pressure, as the country relies heavily on Gulf oil imports.