With the current war-hit high geopolitical interests and tensions, The Black Sea remains the standalone mediator to resolve and ease the trade and diplomatic strategies among Eastern Europe, The Caucasus and The Central Asia. It is not adjacent or directly connected to Indian territory, But it provides immense socio-economic and geopolitical stability indirectly to the Indian Global Trade Fraternity as a whole.
What is the Black Sea Corridor?
In the current Iran-Israel War, ongoing Russia -Ukraine war scenario and Iran threatening on withdrawing supply of petroleum products to the global trade communities and oil sanctions from its Strait of Hormuz, India now has to consider its alternative for solid energy back up for its citizens. All eyes are on the Black Sea Region as global experts are eager to know how exactly these international conflicts impact India's strategic planning and political balance. This is why the The Black Sea Corridor taken a whip of buzz in the current geopolitical trade frontiers, which principally includes countries surrounding the Black Sea i.e. Russia, Ukraine, Romania, Bulgaria, Turkey, and Georgia
It is the major transit route for:
- Energy (Oil & Gas) Imports and Exports
- Grain Exports (mainly from Ukraine and Russia)
- International Trade Routes between Europe and Asia
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How and Why is it so Important for India?
India has been hankering for a permanent Euro-Asian connectivity channel for strengthening its existing trade and diplomatic ties with most of the major global economic giant nations. Black Sea favors India for three solid benefits:
(1) Provides a shorter, easier and well-substituted route to Europe via Suez canal; saving money, time and energy. It interlinks India with Russia and Europe via Iran, Caspian Sea and The Black sea.
(2) Eases the Grain and Sunflower oil import from Russia and Ukraine. India has also increased its Russian crude oil imports since 2022. Black Sea region disruption due to war means India affected to a large scale in business. Hence this corridor will license India's food grain and energy security and hence, it matters a lot to India's international trade policy.
(3) Barring Turkey except its economic partnerships, India maintains strong political, defense and energy ties with Russia and Ukraine. India also shares cordial diplomacy with other Black Sea nations like Romania and Bulgaria
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Food Grain and Oil prices has risen up reasonably in past few years, since Ukraine War. India has voted in support of the UN sponsored Black sea Grain Initiative. As rest of the world lookup to India and watch its geopolitical movements closely during this extreme sensitive moment of war anxiety, India has but maintained a neutral and strategic stance to cope up with peace and harmony. India never took anyone's side in Russia-Ukraine or Israel-Iran-USA war, instead humanitarian aids were sent by India to Ukraine and India voted very carefully in the UN council meeting to keep its ties with Russia intact.
The Final Words
The summary is, India has always favored peace and unity amongst all global nations and always maintained firm stance against terrors and terrorist sponsorships. No one in the world would condone or endorse terror violence, war or innocent civilian killings. So, from all the above analysis, we can easily sum up and evaluate how important the Black sea corridor is for India, the Western, Middle East and South East Asia.
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