North India Statesman
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News India Live, Digital Desk: The fierce war going on in the Middle East is now ready to engulf the entire world economy. The world’s most strategically important sea routes ‘Strait of Hormuz’ The tension has reached its peak. According to the latest news, passing through this strait in the last 24 hours three large cargo tankers Has been targeted by unknown projectiles (missile or drone).
Flames blazing in the sea, rescue operation underway One of the ships attacked was a Thai tanker, which caught fire. The Royal Thai Navy bravely rescued all 23 crew members. At the same time, the second attack took place on a Japanese container ship near the coast of UAE. These attacks have taken place at a time when Iran has made it clear that it will not allow even a liter of oil from America and Israel’s allies to pass through here.
Iran warns: “Be prepared for $200 a barrel” Iran’s tough stance has caused an earthquake in the international markets. Iranian officials have bluntly said that if stability does not return to the region, the price of crude oil will fall. $200 per barrel Can reach. Currently Brent crude has already crossed the $100 level. Let us tell you that the world is close 20% oil Passes through this narrow path.
What will be the impact on India? This ongoing ‘tanker war’ in the Strait of Hormuz is going to have a direct impact on India. India imports a major part of its requirement through this route. If this route is completely blocked, there may be a severe shortage of petrol, diesel and LPG in India and prices may skyrocket.
international response In view of the worsening situation International Energy Agency (IEA) has called an emergency meeting and decided to release 400 million barrels of oil into the market to keep the supply stable. At the same time, US President Donald Trump has also announced to extract oil from strategic reserves, but these measures seem inadequate in the face of the increasing heat of war.
