Tension in Middle East as conflict escalates amid concerns for global markets

Ngozi The world needs development, not missiles exchange, Soremekun

IRAN, last night, retaliated after an Israeli strike killed Iranian military commanders in Damascus earlier this month.

Tehran had been threatening to attack Israel after an air raid on April 1, widely blamed on Israel, destroyed Iran’s consulate in Syria, killing 13 people, including two elite Iranian generals.

Following Iran’s one- off attack, Israel has vowed retaliation.

Permanent Representative of Israel to the United Nations, Ambassador Gilad Erdan, has condemned Iran’s invasion of the state while accusing them of violating international law and the UN Charter.

He demanded a meeting of the Security Council immediately to unequivocally condemn Iran for these grave violations and immediately to designate the Islamic Revolutionary Guard Corps ( IRGC) as a terrorist organisation.

Indeed, oil traders warned that heightened tensions in the Middle East have always led to a rally in prices - so far to the highest intraday levels in six months. If Iran, one of the world’s largest oil producers, gets directly involved, however, a return to prices of more than $ 100 a barrel may soon follow.

With global oil inventories already at low levels, an upset in Iran’s oil production, estimated at around three million barrels a day, could spike prices. As the thirdlargest oil producer in the Organization of the Petroleum Exporting Countries, Iran’s direct involvement in the war will expected to lead to significant movements in the oil market and have a positive impact on oil prices.

In a letter to the President of the UN Security Council, H. E. Mrs. Vanessa Frazier, ( a similar letter was also sent to Secretary- General, United Nations, H. E. Mr. Antonio Guterres) Erdan said: “Six months after Hamas’ brutal terror attack on October 7, I wish to express my outrage regarding the attack against the State of Israel by the Iranian regime, which once again undermines Security Council resolutions, fosters instability, and poses a grave threat to international peace and security.

“Today, Iran has launched a direct attack from within its territory of more than 200 UAVS, cruise missiles, and ballistic missiles towards Israel in clear violation of the UN Charter and international law. Iran has also publicly taken pride in the attack. The attack is a severe and dangerous escalation,” he over the past years, posing a concrete threat to the peace said. and security of the entire reHe noted that on multi ple gion. Israel has warned the inoccasions, Iran violat ed international community of ternational law, which is eviIran’s aspirations, beyond its dent in its actions against terror activities and support Israel and supply of arms to of terror proxies, including warring states. the funding and arming of “Iran continues to violate its both Hamas and Hezbollah. international obligations, The Iranian attack follows evidenced by today’s attack the seizure of a Portuguese on Israel in violation of Secucivilian cargo ship by the rity Council Resolution 2231 Iranian Revolutionary Guard ( 2015), and by acceler ating Corps. the pace of its weapons “The gravity and volume of transfers to Hezbollah in viothe attacks are unprecedentlation of Security Council ed and are a flagrant violation Resolution 1701. of Israel’s sovereignty, interIran has been the architect national law, and Security of instability for years, Council resolutions. Iran posthrough Hamas, the es a direct threat to internaHouthis, Hezbollah and othtional peace and brazenly er proxies. But it is now violates the UN Charter and standing front and center in Security Council resolutions. its actions to fulfill its ambiThe time has come for the Setion to attack Israel,” he said. curity Council to take conHe stated that the attacks on crete action against the Israel are part of a dangerous Iranian threat,” Erdan stated. trend of deterioration as reOn the implication of these flected in his letters to UNSC attacks on the Middle East and the world, Professor of Political Science at Lagos State University, Kayode Soremekun said the Middle East has always been a theatre of war and conflicts, which has always centred around Israel, adding that the latest issue between Iran and Israel can be seen as a continuation of the situation in Gaza.

“Anytime there is a spark in any part of the Middle East, it is bound to generate tremors in other parts of that volatile region. There is a kind of face- off between Israel on one hand and Lebanon. It’s an old- age animosity we are seeing between Iran and Israel,” he said.

He urged both countries to desist from escalating the crisis, explaining that the world needs development not the exchange of missiles.