Mideast conflict: Tharoor warns of rising oil prices, risk to Indians

Shashi Tharoor urged for de-escalation in the Mideast conflict, highlighting risks to Indian citizens and economic worries like rising oil prices and halted gas shipments from Qatar. He called for diplomacy and a peaceful settlement to restore stability.

Congress MP Shashi Tharoor on Saturday urged for de-escalation in the US-Israel vs Iran conflict, saying that stability and calm should be restored as soon as possible.

Speaking to reporters, Tharoor said that the situation is deeply concerning, with human bodies at risk. He underlined that several Indian Nationals residing in the Middle Eastern countries are in danger of the ongoing military strikes. "Its a very serious situation, we are very concerned about it. I must say that there are multiple worries. We have a lot of citizens living in these countries who are potentially affected and are at risk of falling bombs, drones, and missiles," he said.

Economic Worries

The Congress MP underlined the economic downturn with skyrocketing oil prices and halted shipment of gas amid the concerning situation. "There is also an economic worry, which is that the oil prices are going up. Before the war, it was $65 a barrel, yesterday it was $83, and today it was $89. If the oil prices continue to increase, then it will impact all the ordinary citizens in all our countries and certainly across India," he stated.

Gas Supply Disruption

Tharoor further stated that Qatar has imposed 'force measures', not only halting the shipment of gas but also the insurance won't apply to it. "On top of that, we get most of our gas from the Middle East, and Qatar is a major supplier. It is unable to ship any gas and has declared force measures, which means that not only will the gas not come, but also the insurance will not apply. In these circumstances, we will literally have some factories to slow down because there will be no gas to power them," he added.

Call for Diplomacy

He vouched for diplomacy and a peaceful settlement to ensure safety and stability within the countries, saying, "This situation is truly dismaying for us. I believe we want to see stability and calm restored as soon as possible. My view is that we should be calling for de-escalation and diplomacy. There are some diplomatic efforts already underway with other countries to try to end this war. I hope India will be a leading voice in favour of a peaceful settlement."

Conflict Background and Risks

The conflict in West Asia, which began with US-Israel joint strikes on Iran, killing its Supreme Leader Ayatollah Ali Khamenei on February 28, has entered its eighth day. Tehran retaliated by attacking Israel and US military bases in West Asian countries. If tensions continue, potential risks include capital outflows from emerging markets, volatility in financial markets and disruptions in supply chains, all of which could invariably affect countries like India. (ANI)

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