New Delhi: India, the United States and the UAE held a trilateral meeting in Mumbai on Tuesday to discuss energy security and the worsening situation in West Asia.
External Affairs Minister S Jaishankar met US Secretary of State Marco Rubio and UAE Foreign Minister Sheikh Abdullah bin Zayed Al Nahyan. Their discussions covered energy supplies, regional connectivity, economic cooperation and the security situation in the region.
Rubio said the three sides discussed regional energy security and ways to advance their shared economic priorities. Jaishankar described the meeting as a useful exchange of views on energy, connectivity and current developments.
Strait of Hormuz Remains a Key Concern
The talks come amid concerns over disruptions in the Strait of Hormuz, a major route for global oil shipments. Nearly 20 per cent of the world's petroleum flows normally pass through the strait.
A prolonged disruption could push up crude oil prices and increase import costs for India, which relies heavily on overseas supplies. Higher oil prices could also add to inflationary pressure and affect industries that depend on fuel.
Attacks Raise Fears Over Alternative Oil Routes
The situation has become more complicated following Houthi attacks on Saudi Arabia and concerns over the security of energy infrastructure.
Saudi Arabia's East-West pipeline allows crude oil to be transported from its eastern oil fields to Red Sea terminals, offering an alternative to shipments through the Strait of Hormuz. Damage to the pipeline could limit this option at a time when oil markets are already facing uncertainty.
The Bab-el-Mandeb strait is another area of concern. It links the Red Sea with the Gulf of Aden and is used by commercial vessels carrying goods and energy supplies. Further attacks in the area could force shipping companies to reconsider routes and face higher freight and insurance costs.
For India, the concern is not limited to the availability of crude oil. A prolonged crisis could also affect fuel prices, transport costs and the wider economy. The Mumbai meeting brought energy security and the protection of shipping routes into focus as the three countries discussed the regional situation.
