Foreign Minister S. Jaishankar said in the Rajya Sabha that India is closely monitoring the changing situation of crude oil and the deteriorating security environment amid the ongoing conflict in West Asia. Also, he reiterated that disputes in this region should be resolved through dialogue and diplomacy.
Speaking on the first day of the second part of the budget session of India’s Parliament, Jaishankar on Monday said the government was carefully monitoring the developments. Tension is continuously increasing in the Middle East. The minister said that we are monitoring the developments very closely. Also said that the security situation in the area has deteriorated significantly.
However, on Tuesday there was a record rise in the prices of crude oil and the prices of Gulf and American crude oil crossed $ 115 per barrel in the international market. Also, the prices of crude oil on India’s futures market Multi Commodity Exchange have crossed the level of 10 thousand per barrel for the first time. Let us also tell you what the country’s Foreign Minister said about the Middle East crisis and the rise in crude oil prices due to it…
India’s stance on West Asia war
The country’s Foreign Minister Jaishankar also said that the conflict has started affecting normal life and economic activities in the region. He told the Rajya Sabha members that normal life and economic activities in the area have also been affected. On India’s stance on the crisis, the minister said New Delhi continues to advocate diplomatic dialogue. He said that we believe and still believe that dialogue and diplomacy should be promoted to resolve matters in the Middle East.
This came when the government expressed its concern about the impact of this dispute on global energy supply. Jaishankar said that the government is alert about the changing situation of crude oil because enmity is increasing in this area.
The minister said that India has a huge economic and human stake in West Asia. Jaishankar said that we want West Asia to remain stable and peaceful. He further said that the government is also conscious about the presence of a large number of Indians in this area. According to the minister, about one crore Indian citizens live in West Asia, due to which the stability of this region has become a big concern for New Delhi.
Thousands of Indians are still in Iran
Jaishankar further told the House that a few thousand Indians are currently in Iran for studies or jobs, and the government is also keeping a close eye on the situation there. The minister’s statement comes amid growing global concern over the escalating conflict in West Asia, which has created fears of disruption in energy supplies and large-scale instability in the region.
India, which imports a large portion of its crude oil from the Middle East, has repeatedly stressed the importance of de-escalation and diplomatic dialogue as tensions threaten to impact global markets and regional security.
The minister stressed that India’s stake in the region goes beyond diplomacy, pointing to the country’s energy dependence and the large Indian diaspora in West Asia. Jaishankar said that this dispute is a matter of special concern for India. We are neighbors, and we have a clear interest in the stability of West Asia.
He said that this area is central to India’s energy supply and global trade routes. He told the House that this area is important for our energy security and it includes many important suppliers of oil and gas. Serious disruptions and instability in the supply chain are serious issues.
Diplomatic talks necessary
Furthermore, on the human toll of the fighting, Jaishankar said that the fighting has spread to many countries. He said that the conflict is continuously increasing, and the situation regarding security in the area has become very bad. This conflict has spread to other countries also and the devastation is increasing. The minister further said that normal life and work across the area has clearly been affected and in some cases has even come to a standstill. Jaishankar said that India had reiterated its diplomatic statement earlier this month. He said that therefore we reiterated our call for talks and diplomacy on March 3 and talked about ending the conflict soon.