economy
March 4, 2026
Middle East crisis will affect India
New Delhi’s dependence on oil shipped through the Hormuz Strait puts it in a tough situation, Dinkar Srivastava has told RT India
TL;DR
- India's major oil and LNG supplies are routed through the Middle East, making it vulnerable to the current crisis.
- The US and Israel's attacks on Iran, and Iran's retaliatory strikes, have plunged the region into chaos.
- Approximately 50% of India's oil supplies and 55% of its LNG come through the affected region.
- Global oil prices surged by 13% following strikes on Iran, impacting tanker traffic through the Strait of Hormuz.
- Disruptions in the Gulf region, which accounts for over 20% of global oil production and exports, could be more severe than past crises like the 1979 Iranian revolution.
- The situation is worsened by Western sanctions on Russian crude oil, potentially exacerbating shortages and causing significant price rises.
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