India, March 27 -- The world economy is becoming even less certain with Vladimir Putin telling people that the current tension between Iran, Israel and the United States may lead to similar disruptions in the world economy like the one caused by the COVID-19 pandemic. In an address in Moscow at a big business conference, the Russian president warned that already the supply chains, energy markets and industrial output are showing the signs of being strained leading to fears of a greater global slowdown.

According to economic experts, West Asia is of vital importance in international trade with about 30% of the world oil supply travelling through the Strait of Hormuz with any form of chronic instability in the region would easily spill ove...