Oil crisis in the world? Iran is now going to close ‘Bab-al-Mandeb’, prices will increase in the whole world including India.

News India Live, Digital Desk: Released in the Middle East Iran-US war has now taken a turn that can shake the economy of the entire world. Strait of Hormuz Now Iran has the world’s second most important sea route, Bab-el-Mandeb Strait Indications have also been given to close it. If this happens, the supply of crude oil across the world may come to a complete halt, causing petrol and diesel prices to rise.

What is Iran’s new ‘blockchain’ strategy?

Iran has given a clear warning that if America and Israel do not stop the attacks against it, it will completely stop the movement of ships through ‘Bab-al-Mandeb’, the entrance of the Red Sea.

Two-pronged attack: The closure of Hormuz and Bab-el-Mandeb means that the world over 30 Marine oil trade will come to a standstill.

Supply chain breakdown: There will no longer be any safe route for cargo ships going from Asia to Europe.

Price surge: Experts believe that after this move Brent crude $150 to $200 per barrel Can reach.

Why is this an alarm bell for India?

India imports a large part of its energy needs from the Middle East. The closure of Bab-el-Mandeb will prove to be a double blow for India:

Inflation shock: Due to costlier crude oil, the cost of transportation and logistics in India will increase.

Export Delay: Now the goods going from India to Europe and America ‘Cape of Good Hope’ Will have to go through (under Africa), which will double both time and money.

global response

The White House has termed Iran’s statement as ‘terrorism’, while China and Russia have appealed to reduce tension. At present, a period of instability in oil prices has started in the international market.