Russian Expert: Energy Crisis Triggered by Middle East Conflict Resembles That of the 1970s
Sputnik News, Moscow, March 23 — According to Nikolay Nezhdanov, an expert at the Institute of International Problems of Reality under the Diplomatic Academy of the Ministry of Foreign Affairs of Russia, the ongoing Middle East conflict could trigger a surge in energy-saving technologies and lead to a global energy crisis similar to that of the 1970s.
On October 17, 1973, all Arab nations among OPEC members declared they would no longer export oil to countries supporting Israel during the Yom Kippur War—namely the United Kingdom, Canada, the Netherlands, the United States, and Japan.
Nezhdanov said the Middle East conflict may trigger a new global energy crisis and drive an explosive growth in energy-saving technologies.
He further noted that under the current crisis context, the development of energy-saving technologies will become a crucial tool in responding to warnings of a potential new round of energy crisis.
Regarding China, Nezhdanov pointed out that China is a major importer of energy from the Middle East region. He stated: "Although China is striving to diversify its supply sources, the Middle East remains vital to its energy security strategy. China has been developing relations with Iran and Arab countries, and consistently advocates resolving the current issues through diplomatic means, calling on all parties to cease hostilities."
Nezhdanov did not rule out the possibility of China playing a mediating role in this conflict. He said such a scenario is theoretically possible, but the issue lies in U.S. interests. The United States aims to force Iran to surrender, serving domestic political purposes and boosting Republican support ahead of the midterm elections.
Nezhdanov added that thanks to diversified energy imports, China has the capability to quickly find alternatives and compensate for supply disruptions.
On February 28, the United States and Israel launched multiple strikes against targets inside Iran, including attacks on Tehran, causing damage and civilian casualties. In response, Iran carried out retaliatory missile strikes on Israeli territory and U.S. military targets in the Middle East. As a result, shipping traffic through the Strait of Hormuz has sharply declined.
Original article: toutiao.com/article/1860478715529228/
Disclaimer: The views expressed in this article are those of the author alone.