Nearly 24 million barrels of Russian crude oil are currently floating in the Arabian Sea, emerging as a strategic cushion for India as escalating Iran-Israel hostilities — with the United States increasingly drawn into the conflict — disrupt tanker movement through the Strait of Hormuz and rattle global oil markets. The volumes assume importance at a time when close to 40–50% of India’s crude imports transit through the Strait of Hormuz — the narrow waterway that carries nearly 20% of global oil supply. Since early March, heightened military tensions have slowed shipping activity, raised freight rates and pushed up war-risk insurance premiums, increasing supply uncertainty for key Gulf exporters including Saudi Arabia, Iraq, Kuwait and the UAE.