External Affairs Minister S Jaishankar, US Secretary of State Marco Rubio and United Arab Emirates Foreign Minister Sheikh Abdullah bin Zayed Al Nahyan met in Mumbai on Tuesday to discuss regional energy security, the evolving situation in West Asia and shared economic priorities. The trilateral meeting comes amid disruptions to global oil supplies following the blockade of the Strait of Hormuz and a fresh escalation in regional tensions, including attacks by Iran-backed Houthi militants on Saudi Arabia.
Rubio said the three ministers discussed regional energy security and ways to advance their shared economic priorities. The US secretary of state arrived in Mumbai on Tuesday afternoon, while Al Nahyan began his two-day visit to India on Monday evening.
The discussions also covered the broader security situation in West Asia and the economic fallout from disruptions to shipping through the Strait of Hormuz, according to reports.
During his meeting with Jaishankar, Rubio highlighted the role of increased energy trade between the US and India in diversifying India's supply chains and meeting its substantial consumer demand.
The US secretary of state also welcomed recent progress in bilateral defence and civil nuclear cooperation. He advocated greater purchases of US technologies and systems, saying these could strengthen the security and prosperity of both countries.
Energy cooperation has gained significance as disruptions to key shipping routes have raised concerns about the reliability of global oil supplies. Greater diversification of energy sources and supply routes is a priority for major importers such as India, which relies heavily on imported crude oil to meet domestic demand.
The Mumbai meeting brought together the foreign ministers of India, the US and the UAE at a time when developments in West Asia have direct implications for energy markets, trade flows and regional security.
The blockade of the Strait of Hormuz has severely disrupted global oil supplies. The strategic waterway is one of the world's most important energy chokepoints, with roughly 20% of global petroleum flows passing through it under normal conditions.
Any prolonged disruption to shipping through the strait can affect crude availability, freight costs and energy prices, with potential consequences for importing economies and global inflation.
The latest escalation in West Asia has added to these concerns. Houthi militants have carried out attacks targeting Saudi Arabian infrastructure and economic assets, raising fresh questions about the security of alternative oil export routes and maritime trade.
India has expressed serious concern over attacks on Saudi Arabia's civilian infrastructure and economic assets, warning that such strikes undermine regional stability and threaten freedom of navigation through the Bab-el-Mandeb Strait.
The Iran-backed Houthi group has attacked Saudi Arabia's East-West oil pipeline, a key route that allows the kingdom to transport crude towards the Red Sea and bypass the Strait of Hormuz.
The pipeline has become particularly important since the conflict involving Iran disrupted shipping through Hormuz. By enabling crude exports from Saudi Arabia's eastern oil-producing regions towards Red Sea terminals, it provides an alternative route for moving oil to international markets.
However, attacks on Saudi infrastructure have raised concerns about the security of this route as well.
The Bab-el-Mandeb Strait is another critical maritime chokepoint, located between the Horn of Africa and the Arabian Peninsula. It connects the Red Sea with the Gulf of Aden and the Arabian Sea, making it an important passage for shipping between Europe and Asia.
Disruptions in either the Strait of Hormuz or the Bab-el-Mandeb can complicate energy shipments and force vessels to consider longer routes, potentially increasing transit times and transportation costs.
Essential Business Intelligence, Sharp Market Insights, Practical Personal Finance Advice, Daily Fuel, Gold and Silver Prices and Latest Stories — On NDTV Profit.