00:00What do Indian sailors, your cooking oil, and a crisis in the Black Sea have in common?
00:05I've got to show you a video first.
00:06This is a commercial ship in the Black Sea, allegedly attacked by Russia.
00:10And four Indian crewmen died on it.
00:12But wait, why are they going after merchant ships there?
00:15Because in war, trade can be a huge target.
00:19Ukraine relies heavily on the Black Sea to export grain.
00:22And it's one of the world's top exporters of sunflower oil.
00:25More juice on that later.
00:27And here's where India comes in.
00:30The country is the world's second largest supplier of seafarers.
00:33Remember that ship?
00:34New Delhi summoned a senior Russian diplomat over the incident.
00:37And it's only getting worse.
00:39In October, there were six attacks in ten days.
00:42NATO is already deploying extra military support to the Black Sea.
00:47Here's the thing, though.
00:48India is pretty chummy with Russia.
00:52Trade has ballooned.
00:53So have Russian crude oil exports.
00:56It's tricky, but Delhi is taking action.
00:58In September, it proposed a deal that would protect critical infrastructure
01:02and ensure safe passage for commercial ships.
01:04But what else is in it for India?
01:06Honestly, the cooking oil.
01:10India is the world's largest importer of vegetable oil,
01:13most of which is coming from Russia and Ukraine.
01:15So the Black Sea shipping drama is not just putting seafarers at risk.
01:18Insurance rates are through the roof,
01:20jogging up trade costs and thus food prices.
01:22Would India become a mediator between Russia and Ukraine?
01:26Analysts say probably not, though it might facilitate dialogue.
01:31But all this is forcing New Delhi to reconsider
01:33just how much strategic restraint it can afford
01:36towards its old pal, Russia.
01:37Thank you very much for joining us.
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