New Delhi, June 16 -- After months of watching the economy being hit by disruptions in energy supplies through the Strait of Hormuz and maintaining a balance between the various sides involved in the West Asia conflict, the peace deal between Iran and the US will provide relief to India though concerns remain about the long-term viability of the arrangement.

After more than three months of hostilities, Iran and the US on Sunday agreed on a memorandum of understanding (MoU) during talks brokered by Pakistan and Qatar. The deal, scheduled to be signed in Geneva on Friday, will end the US blockade of Iranian ports and reopen the Strait of Hormuz, which was used to transport almost half of India's oil imports till the conflict began in Febru...