Russia says US, Israel actions against Iran trigger global crisis

Russian Deputy Foreign Minister Alexander Alimov said that actions by the United States and Israel against Iran have triggered a global crisis with far-reaching economic consequences, speaking in an interview with TASS on the sidelines of the 82nd session of the UN Economic and Social Commission for Asia and the Pacific (ESCAP) in Bangkok.

According to Alimov, the fallout from the crisis has affected key sectors, including energy, transport, and fertiliser production. He said rising energy prices are increasing inflationary pressure and slowing industrial output, while disruptions in supplies of critical chemical materials — including urea, sulfur, ammonia, and phosphates from Persian Gulf countries — are creating risks for global food security.

He stressed that the Asia-Pacific region has been hit particularly hard. Alimov noted that around 90% of Middle Eastern oil transported through the Strait of Hormuz was destined for Asia, while Gulf countries continue to serve as major suppliers of liquefied natural gas.

Citing forecasts, he added that inflation in the Asia-Pacific could rise by approximately 1%, while regional GDP growth may slow by 0.6% if the conflict persists.

Addressing the broader implications, Alimov said there has been a “regression” in progress toward the Sustainable Development Goals amid the current situation. He called for a political and diplomatic resolution to the conflict and said Russia is advancing initiatives aimed at restoring dialogue, including a concept for collective security in the Persian Gulf.

He added that Russia is prepared to take part in efforts to stabilise the situation in the region.

By Tamilla Hasanova