The U.S. blockade of the Strait of Hormuz is increasing pressure on India and China, with roughly 98% of Iranian oil exports bound for China. This comes ahead of a summit between President Donald Trump and Chinese leader Xi Jinping, which could disrupt the administration's carefully cultivated relationship with Beijing. India, which is increasingly dependent on imported energy, is particularly exposed to the economic fallout from the conflict. The impact of the energy shock is differentiating the two Asian economies, with China's exposure more manageable due to its massive oil stockpiles and diversified energy mix. However, India's reliance on Iranian oil and gas has led to an economic crisis, particularly acute for liquefied petroleum gas imports.