Prudent path: India should stay resolutely neutral as wars erupt in a world without rules
Energy security and risks to commercial shipping are more difficult problems to solve. US President Donald Trump has announced that America will absorb war risks by underwriting insurance for ships transiting the Strait of Hormuz, which Iran has blocked. If this turns into implementable policy, India will get some breathing room. If not, New Delhi should be prepared to exercise the Russian-oil option, braving threats of higher American tariffs.
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