Geopolitical events
On August 22, 2026, the Indian Ministry of External Affairs announced the formalization of the "New Delhi Strategic Energy Corridor," a $25 billion bilateral infrastructure agreement with the United Arab Emirates. This strategic initiative involves the development of an undersea pipeline and high--voltage direct current (HVDC) link designed to bypass the Strait of Hormuz, mitigating the supply chain risks posed by the ongoing Iranian maritime blockade. Prime Minister Narendra Modi characterized the project as a "foundational shift in Indo--Gulf connectivity," aimed at securing long--term energy price stability for the Indian industrial sector amidst the volatility of the West Asia War.