
The US and Israel launched coordinated strikes on Iran on February 28, escalating tensions in the Middle East and raising concerns over disruptions to the Strait of Hormuz, a critical chokepoint through which about 50% of India's crude oil imports and nearly 20% of global oil supply transit. Several oil majors and traders have suspended shipments via the strait, causing tanker delays and increased freight and insurance costs. India faces potential impacts on fuel prices, trade routes, and exports, with alternative supply routes and strategic reserves being considered amid fears of prolonged conflict and regional instability.
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