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: The ongoing Iran-America war in the Middle East has now taken a turn that can shake the economy of the entire world. After the Strait of Hormuz, Iran has now indicated to close the world’s second most important sea route, Bab-el-Mandeb Strait. If this happens, the supply of crude oil across the world may come to a complete halt, which will set petrol and diesel prices on fire. 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, then it will completely stop the movement of ships from ‘Bab-al-Mandeb’, the entrance of the Red Sea. Two-way attack: Hormuz and The closure of Bab-el-Mandeb means that more than 30% of the world’s maritime oil trade will come to a standstill. Breakdown of supply chain: There will be no safe passage for cargo ships going from Asia to Europe. Price surge: Experts believe that after this move, Brent crude could reach $ 150 to $ 200 per barrel. Why is this an alarm bell for India? India gets a major part of its energy needs from the Middle East. Imports. The closure of Bab-el-Mandeb will prove to be a double whammy for India: Inflation shock: Cost of transportation and logistics in India will increase due to cost of crude oil. Delay in exports: Goods going from India to Europe and America will now have to go through the ‘Cape of Good Hope’ (from below Africa), due to which both time and money will double. Global reaction The White House has termed this statement of Iran as ‘terrorism’, while China and Russia has appealed to reduce tension. At present, a period of instability in oil prices has started in the international market.