India, June 19 -- The Iran war's shock to global fuel prices has reinforced Europe's stance that it must forge alternative trade and energy routes to the Strait of Hormuz.

European Commission President Ursula von der Leyen has expressed renewed interest in what is known as the India-Middle-East-Europe Economic Corridor. She told G7 leaders at this week's summit that "alternative export routes have been created that are more resilient and offer choices" while "other routes will be built - for example, a typical one is IMEC."

IMEC is seen as potentially offering the EU greater economic resilience, supply-chain diversification and energy security to bolster the bloc's strategic autonomy at a time when Russia shows few signs of curbing its ...