The Third Gulf War has entered a perilous phase, marked by a widening of targets and increasing risks, and has now evolved into a conflict that threatens the foundations of regional stability and global energy security. The stakes are high for India, and as Prime Minister Modi said in his address to Parliament on Monday, dialogue and diplomacy are the only way forward, and the country should remain prepared and united. The latest escalation in the war began with Israel’s attack on Iran’s South Pars gas field, a critical asset that supplies most of Iran’s domestic gas. Tehran’s response was immediate and consequential. Within hours, it launched a missile strike on Ras Laffan in Qatar, the world’s largest LNG production hub, with long-term adverse effects on energy markets. The escalation deepened further last Saturday. Following an Israeli strike earlier that day on Iran’s enrichment facility in Natanz, Iran carried out one of its most significant retaliatory attacks on Israel. Two missiles penetrated Israel’s Iron Dome air defence system and struck areas near Dimona, which hosts …