Courtesy: Council on Foreign Relations
The absence of panic in the energy markets despite the renewed U.S.-Iran fighting indicates a well-supplied oil market in the longer term. That means stability for energy short countries like India in the long term. In the short term, however, India will be impacted by other disruptions, such as the increased use of sanctions.
Courtesy: BBC
U.S. action in Venezuela has resurrected the 200-year-old Monroe Doctrine which sought to prevent foreign interference in the Western Hemisphere. Originally intended to keep European colonial powers away, it has been reinterpreted over the years beyond that. Donald Trump has reasserted and updated it to the “Donroe Doctrine,” to revitalise U.S. regional hegemony – and through it, some reduction of Chinese and Russian influence.