<p><strong>West Asia War LIVE Updates: </strong>A finance ministry report on Friday cautioned that prolonged crisis in the Middle East can have adverse implications on the exchange rate and and may stoke inflationary pressures on account of rising prices of petroleum goods and fertilisers. Besides, subdued capital flows, accentuated by a flight to safety, could put pressure on the currency, the Monthly Economic Review for February released by the finance ministry said. The US-Israel strikes on Iran on February 28, killing Iranian Supreme Leader Ali Khamenei and sparking retaliatory threats, has disrupted shipping through the Strait of Hormuz -- the world`s most critical oil chokepoint handling 20 per cent of global oil flows -- and damage to key energy infrastructure assets in the Middle East, mark a pivotal escalation echoing the 1991 Gulf War oil shocks, potentially reshaping global energy geopolitics for decades.<strong> We are closing the blog now</strong></p>
