Narendra Modi secures India UAE energy deals amid U.S.-Iran tensions
Prime Minister Modi just wrapped up a quick trip to the United Arab Emirates, teaming up with President Sheikh Mohamed bin Zayed Al Nahyan to lock in some important energy deals.
With oil prices shooting up thanks to U.S.-Iran tensions and shipping routes getting risky, both countries agreed on new steps to keep India's energy supply steady.
India UAE storage deal 30 million barrels
India and the UAE signed a deal that lets the UAE store up to 30 million barrels of crude oil in Indian facilities, basically a backup stash for tough times.
They are also looking into building strategic gas reserves together.
Plus, since the UAE has left OPEC to pursue greater autonomy, it means more flexibility and reliable supplies for India even if global markets get shaky.
India UAE partnership diversifies fuel supplies
With all the chaos in global energy markets, experts say this partnership helps India diversify where it gets its fuel.
It makes sure we're not left scrambling if things go south elsewhere.
The UAE is shaping up as one of India's most dependable energy buddies at just the right moment.