The on-going war between USA-Israel and Iran has emerged as one of the worst kinds of military aggression. The war which is almost completing a month has not only killed thousands of civilians in Iran & Lebanon but has also crippled the global economy. Due to blockade of the Strait of Hormuz, a vital sea passage through which twenty present of the world oil supply is shipped, things ae really turning bad for global economy. As a result the prices of crude oil across globe have increased.

Because of this conflict, supply of essential commodities has further declined due to which an uptick in inflation. Unsafe shipping routes, there are reports of delayed arrivals of consignments, increasing cost of transportation as well as uncertain supply chains. The cost of air tickets for international flights has seen an unprecedented hike as the airline companies are either taking alternative routes or longer aerial distance for safety of passengers. This has impacted the tourism sector not only in Dubai & other gulf countries but even in Europe and South Asia. The stock markets, and other financial institutions are reacting negatively due to instability in the region. Dubai real estate has witnessed a sharp decline after Iran attack.

The present situation across globe has left India diplomatically in bind. India is a big country and biggest importer of crude oil. Though the ministry of oil & gas claims to have sufficient stock of gas & petroleum products, but the shortage of gas across country is visible.

As USA allowed India to purchase oil from Russia for one month, Russia supplied the oil to India without any discount. Resultantly, neither Iran nor Russia is happy with India diplomatically as the decision of oil purchase was taken by India under the US pressure.

This war which has left a trail of destruction behind must be stopped as it can damaged the globe beyond recognition. From labourer to industrialist, everyone is impacted. It will certainly lead to job losses, financial squeeze and further unemployment across globe especially in South Asia.

India has to draft a fresh diplomatic policy using its influence to end this war. India, without alienating any side, should act diplomatically to protect its interest as well as play its role for peace and prosperity in the region.

The Trump administration have adopted transactional approach from the day-first, imposed 50% tariffs on Indian goods, as well as pressured India to halt oil imports from Russia, put restrictions on H-IB visa; even Indian nationals in USA deported to India handcuffed via charter and military planes. We must understand that USA believes in business and there is no room for friendship. This should factor into India’s approach towards this war.

M.M. SHUJA, is a Senior Journalist and a Human Rights Activist.

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