Strait of Hormuz and India's Energy Vulnerability

The Strait of Hormuz is a narrow maritime chokepoint between Oman and Iran through which roughly 20% of the world's oil trade passes. India imports approximately 88% of its crude oil requirements. Historically, 60-72% of crude imports came from the Persian Gulf; recent years saw this moderate to ~45-50% as Russian crude gained market share (rising from 1% in 2017 to 36% in 2024). However, Iraqi, Saudi, Kuwaiti, and UAE crude still transits the Strait. A closure or severe restriction of the Strait would force route diversification via the Cape of Good Hope, adding 15-20 days to transit times and sharply escalating insurance premiums and freight costs.