New Delhi: The war situation in West Asia has become more serious after the US and Israel attacked Iran. After this, Iran hit back and targeted American military bases and important sites in countries like Saudi Arabia, Kuwait, Oman, Jordan and the United Arab Emirates. Because of this, tension has spread across the Gulf region.
The fight between Iran and Israel has created fear of an oil crisis in the world. Many countries buy oil from this region. If oil fields or sea routes are attacked, oil supply can stop. This can make petrol and diesel prices go up in many countries.
India is also worried. At present, India has crude oil and refined fuel stock that can last for about 50 days. The government is keeping a close watch on the situation. If oil prices rise sharply, it can affect transport, electricity and daily goods prices in India.
In this difficult time, Russia has shown support to India. Russia is ready to supply more crude oil if needed. In the past few years, India has increased oil imports from Russia, especially during global crises.
Experts say if the war continues for a long time, it can hurt the world economy. Many countries are asking for peace talks to avoid a bigger crisis. For now, oil prices remain unstable and countries are trying to secure their fuel needs.
