India Edition

US Tests Modi’s Diplomacy With Strikes on Iranian Warship in India’s Neighborhood

Volatile markets, surging oil prices leave India in a tight spot on the diplomatic front

More than a dozen tankers with oil which appears to be unsold, or without a specific destination port, could be tapped by Indian buyers within the week.

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By Menaka Doshi and Sudhi Ranjan Sen

March 6, 2026 at 12:42 PM UTC

Welcome to India Edition, Bloomberg’s daily dive into what’s moving the worlds of business, markets and politics in this dynamic, fast-paced economy. I’m Menaka Doshi. If you didn’t receive this directly in your inbox, you can subscribe here, and share feedback with us here. Want more? Sign up for Markets Daily India, a subscriber-only newsletter featuring key insights before the trading day starts.

Today, I look at how India is balancing its foreign policy and strategic necessities in the wake of the US-Israel strikes on Iran, and my colleague Sudhi Ranjan Sen examines how New Delhi is navigating through choppy waters.

Two months ago India couldn’t give up Russian crude oil fast enough. Now Indian refiners are racing to buy more.