Datanomics: Strait of Hormuz still remains critical for crude oil import

The Strait of Hormuz is still critical for India even though we now import much lower than half of our crude inbound shipments through this route

After ceasefire violations by Iran and Israel on Tuesday, the approval by the Iranian parliament to close the Strait of Hormuz still poses a risk. This has raised concerns about its impact on India’s crude oil imports. In 2024, India imported nearly 4.9 million barrels of crude oil per day, with 39 per cent of it transported through Hormuz. In recent years, India has shifted its crude oil import towards Russia. In 2021-22, 1.9 per cent of India’s crude oil share came from Russia. It surged  to 35 per cent in 2024-25.      Route losing share,