Amid escalating tensions in West Asia in the wake of US-Israel strikes against Iran, a leading Indian-American maritime executive has voiced concern over the impact on the crucial oil artery of the Strait of Hormuz and implications for global oil prices. "Shipping is the hardest-hit industry in any such turbulence in the geopolitical situation,” Chairman of maritime company Safesea Group Dr S.V. ADVERTISEMENT“The Strait of Hormuz must not be allowed to be shut down,” Anchan said, calling for urgent action to ensure safe passage of vessels in the area. Anchan said the maritime industry is always the first in line to bear the impact of wars and conflicts, especially in a confined region like the Arabian Gulf. If businesses are compensated for their losses due to sanctions, then such sanctions can become more watertight.

Source: The Telegraph March 02, 2026 05:48 UTC