Amid the global disruption brought forth by the war in West Asia, Russian President Vladimir Putin on Thursday stated that the consequences from the ongoing war between US, Israel and Iran could be likened to the same level as the COVID-19 pandemic six years ago.
The ongoing conflict, as per Putin, is causing significant damage to international logistics, production and supply chains. The Russian president added that the US-Iran war was also putting intense pressure on hydrocarbon, metals and fertiliser companies.
“The consequences of the conflict in the Middle East are still difficult to accurately predict,” Putin told business leaders in Moscow.
Putin further said that it was hard to predict the consequences of the conflict, adding that “those involved in the conflict also cannot predict anything themselves.”
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“It seems to me that those who are involved in the conflict cannot predict anything themselves, but for us it is even more difficult,” Putin was quoted as saying by Reuters,
“However, there are already estimates that they can be compared with the coronavirus epidemic. Let me remind you that it has dramatically slowed down the development of all regions and continents, without exception,” the Russian president added further.
US-Israel’s war on Iran disrupts the world
With no clear endgame to the US-Iran war, the rest of the world continues to pay the price for the ongoing disruptions. The war, which has resulted in the blockade of the Strait of Hormuz, has sparked a global energy crisis, an oil and supply crisis and an economic fallout.
As per the World Trade Organisation, the global trading system is also experiencing its “worst disruption in 80 years.”
“The world order and the multilateral system we use to know has irrevocably changed,” said World Trade Organisation chief Ngozi Okonjo-Iweala at the opening of the WTO ministerial conference.
“We cannot deny the scale of the problems confronting the world today,” she added further.
The ongoing war has also caused countries across the world to cut back on energy consumption with many resuming work from home mandates.
Where does Russia stand on the war?
Russia has called for an end to aggressions and hostilities from all parties in the conflict. Due to its close ties with Iran, Moscow has also been accused of supplying Tehran with war and drone technology, satellite imagery, and intelligence regarding the locations of US bases in the Gulf region.
Russia has denied these reports and dismissed them as fake news, but has maintained that their dialogue with Iranian leadership continues.
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