Putin’s Global Crisis Warning (Image: X)
Vladimir Putin has warned a global crisis could result from the war between Iran, US and Israel which is currently taking place in West Asia. This is similar to how Covid-19 affected the world.
Just days before this warning was issued by President Putin, Prime Minister Narendra Modi flagged the concerns that he has with this war in West Asia and what impact it will have on India and around the globe.
According to Putin, the consequences of the conflict in West Asia are “impossible to quantify”, with estimates that the repercussions will equal to, if not greater than, that caused by the Covid-19 crisis. He said that the next crisis could result in slow or very little development throughout many geographic locations, and disrupt the global economic system just like the Covid pandemic did.
Putin’s warning was given to the world at a critical time when many nations are concerned about the ongoing violent situation in West Asia and the impact it will have on all nations. The situation is creating a significant amount of tension between many nations and the food supply chain, oil supplies and natural gas supplies will be significantly impacted as a result of the regional war in West Asia.
Prime Minister Modi also noted how the ongoing situation in West Asia is “very serious” and will have tremendous and far-reaching impacts on the global economy and the lives of all people. He stated how “the war in West Asia has created unprecedented challenges for India” and that “West Asia is one of the primary paths for India to ship goods to other nations”.
According to Modi, the aftermath of this crisis may endure longer than originally predicted. Disruptions from the current crisis may impact us on a longer term basis primarily regarding energy supply and economic stability.
Modi compared the current situation to the Covid-19 pandemic, and stressed the need for us to address similar disruptions fast, as we did during that period.
The West Asia Region is pivotal for oil supply worldwide with regard to key transport arteries such as the Strait of Hormuz. A long-lasting conflict in this part of the world could lead to reduced energy supplies available throughout the international markets, and higher international prices for oil. Countries using this region for energy creation and trade have raised issues relating to their ability to continue supply and function through normal channels.
Putin’s and Modi’s warnings demonstrate the increasing distress surrounding this conflict at the international level. With continued uncertainty and no tangible resolution to this conflict evident, leaders are also stating that the global community is likely to face economic/geopolitical shocks similar to the Covid-19 incident.
Khalid Qasid is a media enthusiast with a strong interest in documentary filmmaking. He holds a Master’s degree in Convergent Journalism from AJK MCRC. He has also written extensively on esports at Sportsdunia. Currently, he covers world and general news at NewsX Digital.
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