Global business
Asia’s Largest Oil Buyers Are Running Low on Hormuz Alternatives
21.04.2026
Asia’s largest oil buyers have been able to lean on workarounds to limit the impact of more than seven weeks of war in the Persian Gulf, shielding not only their own economies but those of neighbors competing for cargoes.
That luck is beginning to run out.
To cope with an unprecedented energy shock, China and India have turned to everything from bilateral agreements with Tehran to tapping cargoes of Russian and Iranian oil already on the water. But now those floating supplies are slowly drying up and — to make matters worse — traffic through the Strait of Hormuz is at a standstill, with...
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