Saudi Arabia has severed diplomatic ties with Iran following attacks on the kingdom's embassy and consulate in the Islamic Republic over the execution of a Shiite cleric.
'The surge of Saudi nationalism is the last thing Washington wants,' says Ambassador M K Bhadrakumar.
Saudi Arabia on Sunday came under attack globally a day after it carried out mass execution of 47 people, including Shia cleric Sheikh Nimr al-Nimr who was a vocal critic of the government and the Saudi monarchy.
'Honoured to call on HRH Crown Prince Mohammed bin Salman in Jeddah this evening. Conveyed the warm greetings of PM @narendramodi.'
India possesses approximately 100 million barrels of commercial crude oil stocks, capable of covering 40-45 days of its requirements if flows through the Strait of Hormuz are disrupted, according to Kpler.
Responding to concerns raised by Leader of the Opposition Rahul Gandhi in the Lok Sabha, Petroleum Minister Hardeep Puri said it is the foremost priority of the government that the kitchens of over 33 crore families, especially the poor and the underprivileged, do not face any shortage of gas.
Saudi Arabia can be a 'valuable interlocutor' between India and Pakistan, Minister of State for External Affairs Shashi Tharoor said on Sunday and subsequently clarified that he did not mean that Riyadh should be a mediator.
Analysts predict India will face oil price volatility and macroeconomic effects due to the escalating Iran crisis, though the country's oil supply chain is not yet structurally insecure.
