Nuclear Iran versus US, Europe and petrol prices

16 February, 2012

Iran has finally showcased its nuclear assets to the world and while the US, Europe and other nations are not amused, Iran has also announced in the same breath that, if pushed to a corner, it might stop oil supplies to those who do not toe its line.

DEFYING GLOBAL pressure, Iran has shown its centrifuges and has unfolded its nuclear plans. President Mahmoud Ahmadinejad appears to be least bothered about global sentiments on the nuclear ambitions of his country.

In his opinion, the slogan should be ‘nuclear energy for all, nuclear weapons for none’. Defying pressure from the US and Europe, and threats of sanctions, he has revealed on state TV one of the nuclear centrifuges, and has said that 3000 more new-generation, high-capacity centrifuges have been added to the Natanz facility of Iran, reported The Times of India.

The President has also added that exploration of uranium in Iran has been intensified and a new ‘yellow cake’ factory would soon be launched. Also, Iran would proceed with its plans to build four additional nuclear reactors.

It might be recalled that four Iranian scientists associated with Iran’s nuclear plans were murdered over the past two years and Stuxnet, a computer virus had attacked and damaged Iran’s centrifuges.

In the Indian context, with increase in prices of international crude oil by $120 per barrel, Indians would have to face yet another oil price hike. India buys12% of its oil from Iran, therefore, in the event of stoppage of supplies from Iran, an alternate source would have to be identified, reported The Australian.

From all appearances, the conflict between Iran and other nations is escalating and the situation needs to be defused quickly in the interest of all concerned. No one would want another war in the Gulf region.