Panandikar said, ?The economic complication will be that the international price of oil will be going up; the second one is that we import crude oil from Iraq, and if that supply is stopped, then we will have to look for more suppliers, and this will increase the price of oil also.?
Highlighting the positive impact he said, ?But among all these complications, one favourable thing is that, Iran which also has crude oil reserves and used to supply us, but because of the problems with America, no country has favoured to pay Iran in dollars. Now that there is a patch up between America and Iran because of this civil war, we may again pay them in dollars and get crude oil from there. This opens a new avenue for us.?
What could be the ultimate result of this ongoing war between Iraqi rebels and the governments security forces in Iraq?
An expert on Middle East affairs Qamar Agha said, ?If we look at it, its just a religious conflict where Sunnis have revolted against Shia government. Even since the Americans have introduced democracy, Shia being a majority community got power and is controlling power for centuries. With the fall of Saddam Hussain, the power base has shifted from Sunni's to Shia's. The ISIS people are saying that, Shia may be in majority in Iraq, but the region is dominated by Sunni Muslims, so they are not ready to accept the Shia regime in Iraq. ?They are also saying that they don't want to be governed by Shia's and they believe that Shia's are non-muslims and they want to be ruled by Islamic divine lords.?
How this war could be stopped? Is American intervention inevitable now? Answering this question Agha said, ?I don't think, they (Americans) will agree to it. They said that they will come, but they have also said that they will not send troops on ground. And without sending troops, it is difficult to tackle ISIS' occupation.?