India, Australia, Japan and the US have announced their own energy security initiative amid a global fuel crisis sparked by the Iran war.
A meeting of the so-called Quad grouping’s foreign ministers in Delhi was overshadowed by the Middle East conflict, which began on 28 February and promptly disrupted global maritime trade and rattled energy markets. Iran retaliated to the US-Israeli attacks by effectively closing the Strait of Hormuz, one of the world’s most vital shipping routes for oil and gas.
