Middle East Tensions: Amidst the war related to Iran, the energy crisis is deepening across the world and alternative ways are being searched for. At present, there are no signs of the ongoing tension between America and Iran ending soon. Meanwhile, while addressing the Lok Sabha on Monday, Prime Minister Narendra Modi informed about India’s situation and the steps taken by the government amid the ongoing tension in the Middle East.
Big impact on global economy
Describing the tension in West Asia as serious, Prime Minister Modi said that this conflict has had a deep impact on the global economy, affecting people’s livelihood and its impact will be felt for a long time. He said that the area where this conflict is going on is an important trade route for India. In such a situation, the safety of Indians living in conflict affected areas is of paramount importance and the Central Government is taking all necessary steps with full alertness.
Giving detailed information on the situation of crude oil, LPG and LNG in India, he said that the government is making continuous efforts to maintain the supply. He said that it has been more than three weeks since this war and the whole world is appealing for peace from all sides.
Strait of Hormuz closed but steps taken
The Prime Minister also said that since the start of the war, freight transportation through the Strait of Hormuz has been affected, which has increased the pressure on energy supplies. However, the government has taken such steps which can reduce the impact on the supply of petrol and gas to a great extent. Describing the mixing of ethanol in petrol as a big achievement, he said that it saves about 45 million barrels of oil every year.
He also said that India imports about 60 percent of its LPG requirement. In such a situation, in view of the current uncertainty, the government is giving priority to domestic gas and the production of LPG is also being increased rapidly, so that the supply remains smooth.
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