New Delhi: On February 28, 2026, Israel and the United States attacked Iran, and this started a major conflict. Because of this, oil prices in the world market quickly went above $100 per barrel.
To handle the situation, the United States made a big change. It removed the ban on Russian oil for 30 days and asked countries to buy oil from Russia. Earlier, the US had told India not to buy oil from Russia, so this was a sudden decision.
India again started buying oil from Russia, but this time there was no discount. India has to pay full price, which is costly. At the same time, there is already a shortage of LPG gas in the country, so the problem has become bigger.
When it looked like the Iran-US tension might reduce, another problem started. Ukraine attacked Russia’s oil pipelines and tankers. This caused heavy damage and reduced Russia’s oil supply by about 40%.
Russia is one of the biggest oil suppliers in the world. So, this attack has affected many countries. India, which depends a lot on Russian oil, is now worried.
If oil supply from Russia reduces further, India may face more problems like high fuel prices and shortage. The situation is serious, and India is keeping a close watch on what happens next.
