India-Mideast Gulf Ties Enter Next Stage

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Ties between India and Mideast Gulf states — led by the United Arab Emirates and Saudi Arabia — have strengthened under Prime Minister Narendra Modi as both sides seek closer collaboration at a time of geopolitical upheaval and post-pandemic recovery. Building on a long-standing hydrocarbon relationship and India's role in Gulf food security, they are expanding energy, trade and investment relations, while also developing closer security ties. Plans to use national currencies for bilateral non-oil trade are advancing. Russia's emergence as a major oil supplier to India represents a challenge to Gulf states' exports but won't fundamentally change their role as key suppliers in the long term.

Trade, Oil Demand, Oil Supply, Refining, Opec/Opec-Plus
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