Iran-Israel retaliatory attacks
Let doves of peace fly in the sky, not missiles
At a time when the global economy is trembling due to the ongoing Russia-Ukraine war and international politics is rife with instability, signs of another long-lasting war are emerging through the retaliatory attacks between Iran and Israel. If a prolonged war breaks out between Iran and Israel, it will not only affect Asia and the Middle East but will also have adverse effects across the entire world. Already, world leaders, political analysts, economists, the general public, and international traders are expressing intense concern and anxiety over the situation. World leaders have called on both parties to calm down. But will such a deep crisis subside just by words?
The current crisis between Iran and Israel is largely rooted in history. Renowned psychologist Sigmund Freud once said that wars of this nature continue until one side completely annihilates the other. So, will they not stop until one side is utterly destroyed?
Iran and Israel are more or less evenly matched in strength, making it difficult for one to completely destroy the other. This means the war could continue for years, turning the lives of ordinary people into hell. Though Iran and Israel are thousands of miles away, Bangladesh’s economy too will be affected by their conflict. It will wreak havoc on oil, gas, and shipping networks. If the conflict escalates into full-blown war, the cost of transporting goods through ships coming and going from Chattogram Port will rise dramatically. Fuel prices will also surge. This is because the majority of Bangladesh’s fuel oil imports come from the Middle East. News reports indicated that the threat of an Iran-Israel war endangers the transport routes of oil, gas, and shipping. Shipping costs will rise, and imports and exports will decrease. Fuel oil prices have already gone up. Shipping businessmen are worried about the Strait of Hormuz.
The Strait of Hormuz is a waterway in the Persian Gulf. Situated between Iran, the United Arab Emirates, and Oman, this narrow passage is crucial for global oil trade. According to the US Energy Information Administration (EIA), about one-fifth of the world’s daily oil consumption—roughly 18 to 19 million barrels—is transported through the Strait of Hormuz. If tensions between the two countries persist, many oil tankers will become stuck. Oil prices may then skyrocket. Already, the price of crude oil has jumped by up to 13 percent. The price of Brent crude, a key benchmark of crude oil, has risen more than 10 percent to $75.15 per barrel, the highest in five months.
Bangladeshi traders say that if fuel oil prices rise, production costs for agriculture and factories will also increase. Bangladesh does not have adequate storage capacity for fuel oil—it can only store up to 45 days’ worth.
A fragile situation similar to Bangladesh’s could arise in many countries across Asia and the Middle East. Many factories could shut down due to a lack of fuel oil, and the transportation system could collapse. That means millions of people could become unemployed. A food crisis would emerge. What further crises may follow can easily be imagined.
Therefore, war is not desired by anyone. Yet we are living in a war-stricken world. Every war questions all the knowledge, science, philosophy, ethics, and morality of human civilization—have we truly advanced, or is building a world of destruction our destiny? Will the world remain a mere tool in the hands of a few politicians, or will the common people rise up in fierce protest? It is time for all people of the world to declare in unison: let doves of peace fly in the sky, not missiles!
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