“India will suffer…” Foreign Expert warns of crude price surge, GDP drop after US strikes Iran

ANI

New Delhi, June 22, 2025 (ANI): Speaking on the impact of crude oil in India after US strikes Iran’s 3 nuclear facilities, Foreign Affairs Expert Robinder Sachdev on June 22 said that India would definitely suffered if Iran closes the Strait of Hormuz. He also said that India's GDP will suffer by 0.5 per cent. “...If Iran closes the Strait of Hormuz, India will definitely suffer. About 20 per cent of the world's crude oil and 25 per cent of the world's natural gas flows through these... India will suffer because oil prices will go up, inflation will rise, and there is an estimate that for every ten-dollar increase in the price of crude oil, India's GDP will suffer by 0.5 per cent,” said Robinder Sachdev.

Transcript

00:00If Iran closes the Straits of Hormuz, definitely India suffers.

00:04India will suffer because oil prices will go up, inflation will rise.

00:08India's GDP will suffer by 0.5%.

00:10So, right now oil is around 75-80, it may jump to 90-100-110.

00:16About 1% to 1.5% of India's GDP growth will be shaved off.

00:21Netanyahu, for him, it has been his life's mission to neutralize Iran.

00:27So, he is thanking Trump and saying that Trump has done something great for civilization.

00:32Yes, what he is saying is also that I have done something great for civilization,

00:37which history will remember for generations.

00:40It is Netanyahu's legacy that he is building up.

00:43Yes, of course, in that journey, he needed the help of Trump

00:47and he has been able to draw in American forces towards his mission of neutralizing Iran.

00:54Sir, UN Secretary's statement on this escalation in a regime already on the edge

01:00and a direct threat to international peace and security,

01:03I call member states to de-escalate and to uphold their obligation

01:06under the UN Charter and other rules of international law.

01:10See, what the UN Secretary General is saying is saying something correct

01:13that there is a danger to humanity, civilization and so on and so forth.

01:18However, the unfortunate fact is that the United Nations is completely toothless.

01:23Nobody listens to the UN, especially the United States.

01:27So, the UN and the UN Security Council, they may draw up,

01:31they may have some meetings, vote for some resolutions which will be vetoed by America.

01:35So, there is no tangible outcome that the UN can bring about.

01:40Sir, last question.

01:41If Iran closes the Straits of Hormuz, definitely India suffers.

01:47About 20% of the world's crude oil and 25% of the world's natural gas flows through these.

01:53Qatar's gas, which we buy, almost all flows through this, right?

01:56Kuwaiti oil, 70% of Saudi oil comes to the Straits of Hormuz.

02:00If that happens, which is expected,

02:03India will suffer because oil prices will go up,

02:06inflation will rise,

02:07and there is an estimate that for every $10 increase in the price of crude oil,

02:12India's GDP will suffer by 0.5%.

02:14So, right now, oil is around 75-80.

02:17It may jump to 90, 100, 110.

02:19So, if it jumps by around 20, 30 dollars,

02:23it means about 1% to 1.5% of India's GDP growth will be shaved off.

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