Russia signals readiness to increase oil exports to China, India

Russia is ready to increase oil supplies to China and India if demand from those countries grows, Deputy Prime Minister Alexander Novak said Wednesday, as tensions in the Middle East raise concerns about potential disruptions to global energy flows.

“We are always ready, Russian oil is in demand. We will sell it if it is purchased,” Novak told reporters when asked whether Moscow could expand shipments to the two major Asian buyers, according to Anadolu Agency.

His remarks came amid heightened fears that instability in the Middle East could affect global oil supplies, particularly shipments passing through the Strait of Hormuz.

Iran’s Islamic Revolutionary Guard Corps said Monday that the strategic waterway had been closed to transit and warned that vessels attempting to cross would be attacked following U.S. and Israeli strikes on Iran.

The Strait of Hormuz, located at the mouth of the Persian Gulf, is a vital corridor linking oil and liquefied natural gas exports from the Middle East to global markets through the Arabian Sea and the Indian Ocean. It is also a key route for crude shipments bound for China and India.

Regional tensions surged after the United States and Israel carried out large-scale attacks on Iran over the weekend. Tehran later responded with drone and missile strikes targeting Israel and several Gulf countries that host U.S. military assets.