The US-Israeli attack on Iran on February 28 has disrupted global oil markets. In particular, Iran has blocked the Strait of Hormuz in the Persian Gulf, which has led to problems for tankers carrying oil from West Asian countries. More than 20 percent of the world's crude oil and more than a third of natural gas pass through this region. 

But now Iran's Revolutionary Guards Corps has allowed only a few ships to leave with permission. This has caused a major crisis in the Asian country. In this report, we are discussing the energy crisis in the South Asian country. 

India: Indian authorities have increased their naval presence in the northern Indian Ocean region since the war began. They have started using strategic petroleum reserves to intensify the use of LNG and renewable energy. India has enough oil reserves for about 75 days. In addition, the US has temporarily exempted oil purchases from Russia, so Russian oil will provide some relief to the Indian market. Before the war, India had agreed to stop buying oil from its main supplier, Russia, under pressure from the US. However, in view of the crisis that has erupted since the war, the US has again allowed India to buy Russian oil.

Amid the crisis in West Asia, India is facing an acute shortage of LNG and LPG (cooking gas). Hotels and restaurants have stopped serving. The closure of the world's largest natural gas export hub, Ras Laffan Industrial City, after an Iranian missile strike, is expected to further exacerbate the shortage of LNG and LPG gas in India. The agricultural sector is in trouble due to a shortage of raw materials for making urea fertilizer.

Pakistan:

Pakistan has only enough petrol and diesel reserves for 26 days. That is why a large number of employees in both the government and private sectors in Islamabad are working from home to reduce energy consumption. Schools are closed. University classes are being held online. Pakistan imports more than 70 percent of its total fuel exports from West Asian countries. The crisis of LNG gas and

LPG gas is acute here.  Sri Lanka: 

 The government has declared Wednesday a public holiday. Earlier, Saturday and Sunday were regular holidays. Thus, there are three days off in a week. Most public institutions, including government offices, schools, universities, courts, etc., will take only four days to open.  Health services, ports, security and emergency services are operating normally. Monthly quotas have been set for purchasing fuel. Motorcycles will be allowed to fill up with 5 liters of oil and cars will be allowed to fill up with 15 liters of oil. Since fuel storage in Sri Lanka is very low, the government has put forward these strategies to reduce fuel consumption.

All the petrol and diesel used in Sri Lanka comes from abroad. Almost 90 percent of refined oil comes directly from Southeast Asian countries or  West Asia. Sri Lanka also purchases a small amount of oil from Russia.

Bangladesh: 

Bangladesh has very low storage capacity. Similarly, there is a huge dependence on LNG gas for electricity. More than 90 percent of crude oil comes from West Asia. Since about 70 percent of gas comes from Qatar and the UAE, there is currently a shortage of fuel here. Industries are in a state of closure. This has increased the risk of creating long-term problems.

Nepal: Nepal does not have its own refinery. Refined petrol-diesel and gas come from India. The price of petrol-diesel has not increased here either due to the increase in crude oil prices globally. However, there is no petrol-diesel crisis in Nepal, which has not had a crisis so far.

There is a shortage of LPG gas. Since the raw materials for making urea fertilizer come from West Asia, there is a shortage of fertilizer in India. Its direct impact can also be seen in Nepal. Maldives:

Maldives, a country made up of islands, receives food and materials through sea and air services. Since it does not have its own refinery, Maldives depends on refined fuel from UAE, Oman, Singapore, Malaysia and Sri Lanka.  But all these countries are facing fuel shortages due to the fighting in West Asia. That is why the situation in Maldives is very bad. The tourism sector has collapsed due to the impact of air services here. Tourism is the mainstay of the Maldives' economy. 

Afghanistan:   Afghanistan's economy is weak due to the long war. The country's economy was struggling due to donor assistance. Fuel used to come here from Central Asian countries, Russia and West Asia under grants. But the tightening of regional supply routes and the blockade of Hormuz have exacerbated the crisis here. The transport  and energy sectors have been affected, further affecting the overall economy and daily life. 

Bhutan:   Bhutan imports almost all of its petroleum fuel from India. There is a shortage of LPG gas here. The prices of diesel and petrol have increased.