As the tensions between Israel and Iran continue to escalate, India is keeping a close watch on the situation and reviewing developments on a daily basis, petroleum minister Hardeep Singh Puri said on Monday.

Despite stunning early successes in Israel’s unprecedented strikes on Iran, a weekend of intensive bombardment and retaliation is raising questions about Israel’s exit strategy – how it can end this conflict with its ambitious goals achieved.

The conflict between Israel and Iran has forced many countries in the Middle East to close their airspace, as Israeli jets and Iranian exploding drones and missiles fly over their night skies.

Due to the war, India is increasingly at risk of collateral economic fallout, with energy security, trade routes, and key commercial interests facing growing uncertainty, the GTRI said.

This spike came after Israel struck Iran’s nuclear and missile sites, raising fears of further retaliation and supply disruptions. “The Strait of Hormuz is a chokepoint for nearly 20% of global oil flows, and any threat to its safety adds a geopolitical risk premium,” she added.

Top Lebanese officials said Monday they want to prevent the country, which is still recovering from the recent Israel-Hezbollah war, from being dragged into the ongoing conflict between Israel and Iran.

India's equity benchmarks are set to open little changed on Monday after two straight sessions of losses, as the conflict between Israel and Iran showed no signs of cooling, denting risk sentiment.

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