Noida, September 11 (Daily Kiran) : International relations expert Surinder Singh Lalli has raised concerns that Iran may target the U.S. economy through oil prices rather than direct military action. Speaking in Noida, he warned that rising prices for oil, fertilizers, and helium could adversely affect India’s current account deficit, inflation, and the value of the rupee, ultimately impacting households across the country.
Lalli pointed out that Iran has realized that it can exert pressure on the U.S. by manipulating oil prices, as it cannot launch military strikes from 8,000 kilometers away. He emphasized that if Iran wants to influence the world, particularly the U.S., it must do so through oil prices, given that the U.S. is the largest consumer of oil.
He noted that the U.S. has the highest number of vehicles globally. When American consumers face a spike in gasoline prices, it directly affects their wallets, and this financial strain could impact political figures, particularly Donald Trump, with midterm elections approaching. Lalli suggested that Trump is aware of his dwindling chances of re-election.
Lalli expressed uncertainty about how the U.S. will navigate this situation, highlighting the pressure it has placed on India as well. He questioned how India would secure its oil supply and what the implications would be. As an energy-importing nation, India will inevitably feel the effects of fluctuating oil prices, which will influence its current account deficit, inflation, and currency valuation.
He also conveyed hope that the current tensions would not persist for long, noting that Iran is also fatigued by the ongoing situation. With only 53 days until the U.S. midterm elections, Lalli remarked on the precariousness of Trump’s position. He pointed out that Trump has been inconsistent in framing the conflict as war, with legal constraints complicating the situation further.
Lalli asserted that the conflict has drawn in global players, including Russia and China, who have been observing the U.S.’s military capabilities and weaknesses without direct confrontation. He warned that should China decide to act on Taiwan, it would have ample intelligence to inform its strategy.
He concluded by highlighting the precarious position of the Gulf Cooperation Council (GCC) countries, which have relied on the U.S. for security since the introduction of petrodollars in the 1970s. As the midterm elections draw near, Lalli suggested that the outcome will reveal whether Trump’s base of 77 million voters remains loyal, a prospect that seems increasingly uncertain, particularly in light of Trump’s recent rally in Dallas where he made controversial promises to voters.
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