Iran War 2026: Amid the ongoing war in the Middle East, India is considering restarting the import of Liquefied Natural Gas (LNG) from Russia for the first time since the Ukraine war, reported Reuters, citing people familiar with the matter. India has approached the United States for a sanctions waiver amid the potential energy crisis due to the war between Iran and the joint forces of Israel and the US. India has also asked its importers to prepare for LNG purchase from Moscow that was halted due to the western sanctions back in 2022.
Earlier on March 19, Russian Deputy Energy Minister Pavel Sorokin and Indian Petroleum Minister Hardeep Singh Puri reached a verbal agreement to restart the negotiations in a Delhi meeting. India reduced the imports of Russian oil back in January amid the trade deal talks with the US. However, after a brief period, India again increased the imports, defying US President Donald Trump's claims.
India and Russia have also agreed to increase crude oil supplies after the Trump administration waived off sanctions for 30 days to manage the crisis. While India has already been importing LPG from Moscow, it is also in talks with other countries to meet its energy demands if the war is stretched.
Along with India, several other Asian nations, including China, Sri Lanka, Pakistan, and Bangladesh, are also considering changing their energy strategy. The movement of ships through the Strait of Hormuz has been severely affected due to the war that began with the killing of former Iranian Supreme Leader Ayatollah Ali Khamenei on February 28.
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While Trump has claimed that the US Navy is soon likely to free the chokepoint from the Iranian influence, the experts pointed out that it would not be a cakewalk. Iran has claimed that apart from its enemy convoys, all the other ships are allowed to pass through the critical region.