The escalating conflict between Iran and Israel could have serious economic implications for Indian households, primarily through the global oil market. Given that India imports over 85 per cent of its crude oil requirements,

Shapiro served as Deputy Assistant Secretary of Defense for the Middle East until January—charged with, among other things, considering scenarios in which tensions between Israel and Iran escalated into all-out war and preparing U.

Wall Street has all but dismissed the threat of a shock from the conflict. But the danger hasn’t completely passed, and other dangers are building.

The stated intention of the attacks was to stop Iran from building a bomb. Some experts worry it may have the opposite effect.