US Israel Iran war: Will conflict escalate to a global crisis; why the situation is worrying for India?
US Israel Iran war: Iran's Supreme Leader, Ali Khamenei, was killed in an Israeli and American attack. This has further exacerbated the situation. Iran has retaliated by attacking eight Gulf countries. Violent protests erupted against the US Embassy in Karachi, Pakistan, resulting in police firing that resulted in the deaths of 12 people.
Iran's retaliatory strikes, missile and drone attacks on US bases in Gulf countries, an alert in Dubai and Abu Dhabi, and the suspension of international flights are signs that this conflict will not be limited. If the situation is not immediately brought under control, this conflict could escalate from a regional war to a global crisis. Therefore, an immediate halt to this war is not just a political option, but a global necessity. This conflict is not just a rivalry between three countries.
25 percent of world's crude oil passes through Strait of Hormuz
Approximately 25 percent of the world's crude oil passes through the Strait of Hormuz. Iran has closed this waterway. Oil prices could exceed $100 per barrel. This will directly impact the economy of every country. Fuel will become more expensive. Transportation and logistics costs will increase. Ultimately, the burden on ordinary citizens will increase. A new wave of global inflation could grip the world. A decline in stock markets and waning investor confidence will further deepen this crisis.
Situation is particularly worrying for India
This situation is particularly worrying for India. The country imports approximately 85 percent of its crude oil needs, a large portion of which comes from the Gulf region. If oil prices rise, the trade deficit will increase. The rupee will come under pressure, and growth rates will be affected.
9 million Indians live in Gulf countries
Additionally, the safety of approximately 9 million Indians living in Gulf countries will become a major question. If the conflict spreads, not only will their lives be at risk, but India's significant foreign exchange and remittances will also be affected. Strategic projects like the Chabahar port and the Middle East-Europe Corridor could be put on hold.
This war could also have dire consequences from a humanitarian perspective. Gaza and West Asia are already unstable. A new military front will displace millions of people. Innocent civilians, women, and children will pay the heaviest price. Furthermore, the potential for a nuclear threat cannot be ignored.
Prolonged war could lead to a global recession
History shows that wars are easy to start but difficult to end. In such times, restraint and diplomacy are the only solutions. A ceasefire, humanitarian corridors, and the resumption of dialogue are the three steps that must be taken immediately. A prolonged war could lead to a global recession, the cost of which will be paid for generations to come.
If the Middle East fire ignites, its flames will reach every country. It is the responsibility of the entire world, including India, to advocate for peace. Clearly, for the sake of world peace and the economy, this destructive war must be stopped immediately.