As geopolitical tensions escalate in the Middle East, Union Petroleum and Natural Gas Minister Hardeep Singh Puri on Sunday assured the nation that the government is prepared to take “all necessary measures” to ensure fuel affordability and stable supplies, even as Iran moved to close the Strait of Hormuz, one of the world’s most vital oil transit chokepoints.
The minister’s statement came shortly after Iran’s parliament approved the closure of the Strait of Hormuz in response to a series of precision airstrikes by the United States targeting key Iranian nuclear facilities. The strikes, conducted by B-2 stealth bombers, hit Fordow, Natanz, and Isfahan — critical sites in Iran’s uranium enrichment program.
“The Modi government has, over the past several years, not only ensured the stability of supplies but also affordability. We will take all necessary measures to ensure that continues,” Puri said on Sunday, highlighting India’s readiness to respond to any potential disruptions.
#WATCH | Israel-Iran conflict | Cork, Ireland: Union Minister Hardeep Singh Puri says, “…It’s very difficult to speculate the price factor. The oil price for a long time was between 65 and 70. Then it was between 70 and 75. Today is a Sunday. When the markets open tomorrow, the… pic.twitter.com/OiVPGvK1uA
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Addressing concerns about the global impact of the Strait’s closure, the minister noted that while the full economic consequences will become clearer once markets open on Monday, there is currently adequate oil available globally. “More oil is coming into the market, particularly from the Western Hemisphere. Even traditional suppliers have a vested interest in continuing supplies for their own revenue needs,” he added.
The Strait of Hormuz connects the Persian Gulf to the Gulf of Oman and is a critical corridor for nearly one-fifth of the world’s oil supply. Any prolonged disruption could have serious implications for global energy markets and nations dependent on Middle Eastern oil, including India.
However, Puri emphasized that India is better positioned today to weather such a crisis. In a post on X (formerly Twitter), he said: “We have been closely monitoring the evolving geopolitical situation in the Middle East over the past two weeks. Under the leadership of PM @narendramodi Ji, we have diversified our supplies in the past few years and a large volume of our supplies do not come through the Strait of Hormuz now.”
We have been closely monitoring the evolving geopolitical situation in the Middle East since the past two weeks. Under the leadership of PM @narendramodi Ji, we have diversified our supplies in the past few years and a large volume of our supplies do not come through the Strait…
— Hardeep Singh Puri (@HardeepSPuri) June 22, 2025
He added that India’s oil marketing companies currently maintain reserves for several weeks and continue to receive shipments through multiple international routes.
