Washington: The war shocks in Iraq would also be felt in India, a leading oil
importing country, with a possible US attack on Baghdad hurting its short-term
interests in the region, a leading Strategic Affairs expert said on February
10.
However, the offensive is expected to bring long-term benefits once the oil prices
drop, George Friedman, Chairman of Stratfor.com, a private intelligence service
said.
On the negative impact of the US-led war against Iraq on the country, he said India,
along with China, have expanded oil consumption and are sensitive to the present high
prices besides outstanding contracts on Iraqi projects that might not be fulfilled by
a new regime that replaces Saddam Hussein.
He said Iraq's bilateral trade volume with India, a major importer of Iraqi oil under
the UN approved oil-for-food programme currently stands at $ 1.1 billion.
With the debate on whether to attack Iraq getting shriller in the American media,
Friedman said the greatest beneficiary of the victory on Baghdad would be the US
itself.
The war would establish a US "imperium" in the Middle East, said Friedman.
The competition for war spoils have already started to intensify, he said.
He said, "The conquest of Iraq will not be a minor event in history. It will
represent the introduction of a new imperial power in the Middle East and a
redefinition of regional geopolitics based on that power."
PTI
