Ambassador Sanders Warn of Growing Oil Costs as Iran, Israel Dispute Continues

Growing oil prices and increased shipping costs were just a few the areas, Sir Ronald Sanders, Antigua and Barbuda’s Ambassador to the US warns could be affected if the dispute between Iran and Israel escalates.

Sanders mentioned that it in the best of interest of all around the globe especially us in smaller territories that tensions do not continue to rise as this could see a similar situation during the COVID-19 pandemic where there was an influx in costs to shipping and other essential items.

“Any incident like this in the world, we cannot say it is distant and nothing to do with us. We will see oil prices rise in the next few weeks ff this Iran thing continues. It is already rising and if it is already rising, can you imagine what it is going to do to our tourism product? To the cost of delivering energy. Even to the cost of delivering water because, remember, we can’t deliver water without electricity. So, we need the energy to do all of this.

“The prices go up. It is going to become very difficult. So, we have an interest in this matter but not just us. Every country in the world. It is going to affect shipping. The things that we saw happen after Covid, for instance where the cost of containers rose, the cost of goods rose, all of that is going to happen again because of these conflicts. So, we have to be concerned about that.

He urged it is imperative that countries let their voices be heard on the matter in a call for peace and not war.

On Sunday, the US bombed three nuclear plants in Iran. President Donald Trump announced the strikes, leaving the globe in a state of concern and shock as to what the future may hold in terms of an all-out war.

Iran’s state-run IRNA news agency reported that attacks targeted the country’s Fordo, Isfahan and Natanz nuclear sites.

President Donald Trump urged Iran to end the conflict after he launched surprise strikes, but Iran’s foreign minister said Iran reserves the right to retaliate.

Israeli strikes on Iran have killed more than 400 people so far, Iran’s health ministry said. Iran’s attacks on Israel have killed 24 people, according to official figures.

The United Arab Emirates, Qatar and Oman, which had been mediating Iran-US nuclear talks, criticized the US strikes and called for de-escalation. French President Emmanuel Macron on Sunday warned against an “uncontrolled escalation” in the Middle East, as he and his German and British counterparts called on Tehran “not to take any further action that could destabilize the region.”