Energy security to dominate Modi’s UAE talks amid Gulf supply tensions
(Bloomberg) – Energy will dominate Prime Minister Narendra Modi’s visit to the United Arab Emirates on Friday as India moves to shore up stable supplies amid rising geopolitical tensions in West Asia.
Modi and President Sheikh Mohamed bin Zayed will look to deepen and strengthen energy ties as well as trade and investment ties, Randhir Jaiswal, spokesperson of India’s Ministry of External Affairs said on Tuesday. This will be the second one-on-one meeting between the two leaders in five months.
Modi’s visit comes weeks after the UAE quit OPEC, signaling a major shift in global oil politics that could eventually allow the Gulf nation to raise production outside quotas. The UAE’s exit has significant implications for India, which imports most of its energy from the gulf. The South Asian nation has long argued for stable and affordable oil prices.
The two countries share a rapidly expanding strategic partnership including cooperation in defense and technology. The UAE is India’s third-largest trade partner and one of its biggest sources of investment.
Separately, Iranian Foreign Minister Seyed Abbas Araghchi is expected to travel to India for the BRICS foreign ministers’ summit, according the state-backed Islamic Republic New Agency.
India will host a two-day meeting of foreign ministers of the grouping starting May 14, Jaiswal said, adding Modi will be meeting them during the visit.
The visit of the Iranian foreign minister coincides with Modi’s outreach to the UAE, highlighting India’s effort to maintain balanced ties with both Gulf Arab states as regional tensions reshape global energy and trade flows.
