Balance of Power

Asia Gets Covid Déjà Vu From Iran War Turmoil

India and most of South Asia are already seeing the war hit their economies.
A fuel station in Mandaluyong, Philippines, on March 26.Photographer: Lisa Marie David/Bloomberg

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It’s perhaps not surprising that the region that uses the vast majority of the oil that transits through the Strait of Hormuz is most anxious about its closure.