8 hours ago
- Business
- Business Standard
Fragile ceasefire, lasting threat: Why India can't relax on oil security
India's energy economy and state finances have suffered since 2022, when Russia invaded Ukraine, because of lack of adequate stock and dependence on foreign fuel
S Dinakar Amritsar
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One would expect India's policymakers and refiners to rest easy after Washington hemmed, in a patchwork fashion, a ceasefire between Israel and Iran on Monday night, which may prove too delicate to offer a lasting solution to peace in West Asia.
Two-and-a-half hours into the ceasefire, Israel accused Iran of raining missiles and prepared to strike back. It's a fragile cease fire. 'But looking beyond the ceasefire, the deeper challenge remains — a lasting peace would require rapprochement between Israel and Iran,'' said Vandana Hari, a Singapore-based energy expert.
For now, a sense of calm has prevailed over markets. With
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