Mumbai, July 8 -- Market experts and economists have cautioned that a prolonged US-Iran standoff could push India's crude oil import basket well beyond USD 75 per barrel, raising the country's import bill, stoking inflationary pressures and weighing on the current account, even as India's diversified sourcing strategy is expected to cushion supply disruptions.

The views came after the United States re-imposed strict sanctions on Iranian oil by revoking a temporary crude sales waiver and launched fresh retaliatory military strikes on more than 80 Iranian targets.

The escalation follows attacks on three commercial vessels, including crude and LNG tankers, near the strategic Strait of Hormuz, triggering a sharp rally in global crude prices...