look news india
Very shocking and scary news is coming out from the Middle East at this time. The whole world felt that the long-running dispute between America and Iran was now on the verge of being resolved through a peace agreement (MoU), but at the last moment, just one single line has completely spoiled the whole game. ‘Article 5’ (Article 5 of MoU) included in the draft of this peace agreement has now become the biggest reason for igniting a new spark of war in the world’s most sensitive maritime trade route – the Strait of Hormuz. Due to this, there has once again been a huge uproar in international diplomacy and the global security system.
What is that mysterious Article-5 of the Memorandum of Understanding (MoU)?
According to international affairs experts and top diplomats, the foundation of the intelligence talks going on between America and Iran for the removal of nuclear program and economic sanctions rested on this ‘Article-5’. In this article it was clearly written that the responsibility for the security of international oil tankers and cargo ships passing through the Strait of Hormuz will be solely of the Iranian Navy, while the forces of Western countries will have to immediately withdraw from there. America flatly refused to sign this line considering it to be against the interests of itself and its friendly countries, after which the hopes of peace were dashed in an instant.
Why has the Strait of Hormuz become a heap of gunpowder?
From a geographical and economic point of view, the Strait of Hormuz is the world’s most important lifeline. About 20 to 30 percent of the world’s total crude oil reaches India, China, Japan and European countries through this narrow sea route. As soon as this line of the agreement was leaked, the navies of both the countries (US Navy and Iranian Navy) have come face to face in this entire maritime area. Iran has started deploying its missile defense systems near the Strait of Hormuz, due to which clouds of war are looming over the entire region.
What will be the impact of this diplomatic failure on India and the global economy?
Because of this one line, the whole world including India may have to bear the direct consequences of the situation gone wrong. If the movement of ships is affected even for a short while due to tension in the Strait of Hormuz, the prices of crude oil in the international market may suddenly skyrocket. India imports a large part of its requirement through this route, due to which the risk of petrol and diesel prices increasing in the domestic market and inflation going out of control has increased. Intelligence agencies around the world are now keeping an eye on whether America and Iran will return to the negotiating table or whether this dispute will turn into a major war.