Iran-Israel War Threatens Europe's Oil Lifeline from India; Hungary Panics

• Europe, under sanctions against Russia, has been relying on discounted Russian crude refined in India and exported as fuel.
• Escalating Iran-Israel conflict and threat to the Strait of Hormuz now jeopardize this crucial supply chain, causing panic in Europe.
• Hungarian Foreign Minister Péter Szijjártó urges Europe to prioritize interests over ideology and seek direct energy from Russia.
• Fears include supply cuts, skyrocketing oil prices, and lack of alternatives if the Indian supply route is disrupted.
• India's strategic autonomy is highlighted, with potential Arctic routes with Russia if traditional routes are blocked.