"Economically, South Asia relies heavily on Gulf oil and gas. Iran, a key supplier for India, could face disrupted exports..., spiking global energy prices. India, importing 80% of its oil, would face inflationary pressures, straining its economy. Pakistan, already grappling with fiscal challenges, could see exacerbated energy shortages, deepening domestic unrest," Dr. Shubhda Chaudhary, who is the founder of the New Delhi-based Middle East Insights Platform, told Sputnik India.
"New Delhi's contention then was not to appease Washington but a principled stance in that Iran, a Nuclear Non-Proliferation Treaty (NPT) signatory, had violated it by enriching weapons-grade uranium for a bomb. India had never signed it, so the question of hypocrisy, sometimes leveled against it, is untenable," Burzine Waghmar, a member of the Centre for Iranian Studies at the School of Oriental and African Studies (SOAS) in London, said in an interview with Sputnik India.
"A blockage could halt flows from Iran, Iraq, Saudi Arabia, and others, potentially reducing global supply by 20–30%. Oil prices could surge to $100–150 per barrel, far exceeding the $109 peak post-2011 Iranian threats. India's oil import bill, $132 billion in 2023–24, would skyrocket, fueling inflation and straining its trade balance. Liquefied natural gas (LNG) prices, vital for India's energy mix, would also spike, as Qatar's exports pass through the Strait," the strategic affairs pundit emphasised.