Iranian Oil Rerouting Shows Free Market at Play, Says Expert

In an interview with ANI on Friday, Sachdev said, "I don't see it as anything surprising; it's probably right now free market playing out." He explained that multiple factors could be influencing such decisions, including competitive pricing and logistical requirements.

"There are many buyers as well as sellers; sellers want to sell quickly. Iran knows it has a 30-day window to sell its oil at sea, Russia knows it has a 30-day waiver," he said, adding that rerouting could also stem from better offers or documentation requirements by Indian importers like Nayara Energy.

On Iran's warning to the United Nations Security Council, Sachdev expressed scepticism about the global body's effectiveness. "Fundamentally, there is nothing that the United Nations can do; it does not have the structural elements," he said, pointing to divisions among permanent members. "Everything goes up to the UN Security Council, you have Russia and China, America and others, any proposal will not be able to bridge the gap," he added, calling the UN "at an impasse" and stating it "cannot deliver anything other than statements and expressions of concern."

Highlighting India's concerns over the Strait of Hormuz, Sachdev said the situation remains critical for global energy security and maritime safety. "The Strait of Hormuz is a matter of huge concern for everyone. We have been impacted not only economically but in terms of the lives of our mariners," he said, noting that diplomatic efforts remain the only viable path forward. "Military force is ruled out; what remains is dialogue and diplomacy, which India has always been promoting."

On rising tensions between the United States and Iran, Sachdev warned of further escalation. "It will invite a tit-for-tat response," he said, referring to reported strikes on infrastructure. "What the United States is doing now is systematically attacking and damaging physical infrastructure, which is a war crime by the way, so that when they decide to stop, at the end of it Iran is hugely weakened," he said, adding that such actions could provoke retaliation targeting power grids and desalination plants across Gulf countries. He also pointed to competing narratives around recent incidents, saying, "Lots of dirty games are also going on."

- ANI