India, March 23 -- No country would be immune to the global economic fallout as the world faces a "major threat" from the energy crisis triggered by the West Asia conflict, International Energy Agency (IEA) chief Fatih Birol said on Monday, according to media reports.

Comparing the current turmoil with the oil shocks of the 1970s and the impact of Russian invasion of Ukraine, Birol stressed the need for coordinated global action to contain the crisis, warning that prolonged instability would affect all countries.

Meanwhile, Donald Trump has sharply escalated tensions in West Asia by issuing a strong warning to Iran, demanding that it reopen the Strait of Hormuz within a fixed timeframe.

He warned that failure to comply could trigger di...