India, April 15 -- Of course, the immediate reactions were that the major loser due to the US blockade in the Strait of Hormuz, despite hints of a second round of Iran-US talks, is Iran. The estimates came out instantly. According to one estimate, Tehran may lose more than $400 million a day. Yes, per day, or more than $12 billion a month. This included $150 million a day loss in the exports of 1.5 million barrels of crude oil at an average price of $87, and a complete blockade that will impact 90 per cent of exports. Add to this figure, the exports of petrochemicals, and other products.

Some columnists, who are the supporters of Donald Trump, contend that the blockade is a better option than a ground-level military operation. It is the ...