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Strait of Hormuz: Due to the war, Iran closed the Strait of Hormuz. Following this, oil supply was disrupted across the entire world. However, now there is relief for countries around the world after a ceasefire was established between the two nations.
US–Iran Ceasefire: The war between Israel-America and Iran had created an energy crisis worldwide. However, a two-week ceasefire has now been established between the two countries. US President Donald Trump announced this. It is being reported that America has agreed to 10 demands of Iran, after which the ceasefire has occurred.
Due to the war, Iran had closed the Strait of Hormuz. Following this, oil supply was disrupted across the globe. But now, with the ceasefire between the two countries, there is relief for countries around the world. This ceasefire will have a positive impact on India.
It is worth noting that energy supply in India was disrupted due to the war. India's economy has been affected by the energy crisis. The ceasefire and the reopening of the Strait will bring significant relief to India, as India has received only about eight ships in the last 39 days since the war began.
In fact, the war has also impacted the lives of Indians, with eight Indians losing their lives in the last five and a half weeks, including three sailors.
However, over 7 lakh Indians have returned to their country via flights, of which approximately 1,800 people have come from Iran. But Delhi's concern regarding the safety of Indians in the Gulf region was quite high. After all, about one crore Indians live in this region and they contribute about 40% of the total remittances sent to India.
Currently, the halt in the war will normalise oil supply and keep prices stable, which will also help control inflation.
Following the ceasefire, Iran announced that maritime traffic through the Strait of Hormuz would continue for two weeks. Foreign Minister Abbas Araghchi posted on the social media platform X. He wrote, "I, on behalf of Iran, thank Pakistan's Prime Minister Shehbaz Sharif and Field Marshal Munir. They have worked very hard to end the war in this region. If attacks on Iran stop, our army will also stop its retaliatory (defensive) actions."
For the next two weeks, safe passage of ships through the Strait of Hormuz will be possible, taking into account the coordination and technical conditions of the Iranian army.