Gulf states are stuck between war and peace as the Strait of Hormuz blockade slashes energy exports and forces costly infrastructure repairs. Stalled US-Iran talks are putting economic recovery and diversification plans at risk, while analysts say the region struggles to shape Washington’s decisions. Reports of unpaid leave and salary cuts add pressure as about half of Gulf countries forecast contraction.
New European sanctions are restricting fuels refined from Russian crude, even when the processing happens outside Russia. The move targets the core of India’s oil arbitrage and export strategy that has generated billions. With timelines tightening and revenue at stake, traders and policymakers now face the urgent question: what fuel route can replace the blocked play fast enough?
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