India on Tuesday expressed grief over the loss of lives in the raging West Asia conflict and warned that prolonged disruption of oil supplies through the Strait of Hormuz could have “serious consequences” for the country’s economy.Nearly 40 per cent of India’s crude imports pass through the narrow Strait of Hormuz–shut since March 1–while the remaining 60 per cent are sourced through other routes. “As of now, the country is in a comfortable position in terms of energy security, LPG and LNG supplies. India continued to import Russian crude as per existing contracts,” government sources said.India’s strategic petroleum reserves–estimated at around 100 million barrels–are sufficient to meet the country’s requirements for 25 days. The sources said alternative supplies for fuel imports were being explored. “Also, there is no immediate plan to raise petrol and diesel prices,” the sources said.In a statement, the Ministry of External Affairs (MEA) expressed grief over the loss of lives. On the large-scale destruction and the mounting deaths, it said, “As a proximate neighbour with critical stakes in the security and stability of the region, these developments evoke great anxiety.”India had expressed “deep concern” after the commencement of the conflict in Iran and the Gulf region on February 28. The MEA said the lives and employment of nearly one crore Indian citizens were at stake across several countries in West Asia due to the US-Israel conflict with Iran. “Their safety and well-being is of utmost priority. India cannot be impervious to any development that negatively affects the diaspora,” the MEA said.Already, some Indian nationals have lost their lives or are missing as a result of the attacks in the last few days. India today said “all sides needed to exercise restraint, avoid escalation and prioritise the safety of civilians”. “Unfortunately, in the holy month of Ramadan, the situation in the region has deteriorated significantly and continuously. We raise our voice clearly in favour of an early end to the conflict,” the MEA said.Earlier in the day, Minister for Petroleum Hardeep Puri, in a post on X, mentioned how the “trilemma of energy availability, affordability and sustainability” continued to guide India’s approach under the leadership of Prime Minister Narendra Modi.A prolonged disruption through the Strait of Hormuz would lead to higher import costs, increased freight exposure and the need to reroute oil supplies over longer distances for India. New Delhi can tap suppliers in West Africa, Latin America, the US and potentially Russia to compensate for any shortfall in crude oil.The country spent $137 billion on crude oil imports in fiscal year ended March 31, 2025. From April 2025 to January 2026, the crude import bill stood at $100.4 billion. India’s strategic oil reserves are in storage tanks underground at Mangalore, Padur and Visakhapatnam.