Energy & Petrochemicals #fuel#fertilisers
India's 3Fs Stress: How the US-Iran War Is Straining Fuel, Fertilisers and Forex
India is under stress from the '3Fs' — fuel, fertilisers, and forex — as the US-Iran war drives up crude oil prices and disrupts supplies via the Strait of Hormuz. Finance Minister Nirmala Sitharaman urged conservation of foreign exchange. With over 85% crude import dependence and 50% of DAP and urea imports from the Middle East, the entire 2026-27 fiscal year could be affected, according to EY India's chief policy advisor.
Jun 15, 2026 1 source