As the world goes through the misdeeds of the Russian-Ukrainian conflict, the recent visit of Russian President Vladimir Putin and Turkish President Recep Tayyip Erdogan to the Iranian capital Tehran is in the crosshairs of world powers. This not only angered Uncle Sam, but also created anticipations that the laying of the first foundations for a new anti-American world order has begun. Shortly after the Cold War and the dissolution of the Warsaw Pact, the United States had absolute freedom to play and the world watched, but the current meeting of three world leaders reminds us of the 1943 Tehran conference where President Franklin Roosevelt of the United States, Winston Churchill of the United Kingdom, and Joseph Stalin of Russia came together with a common goal to counter Germany. Today, after almost 80 years, the goalposts have changed. Russia and Turkey, once US allies, are now turning their bids against US hegemony.Also Read – Microsoft, Apple, Google and More: List of Companies Considering Hiring Freezes and Laying Off Employees
Russia and Iran, despite being the two main oil producers, have been isolated from the rest of the world by the sanctions imposed by the US-led coalition, while Turkey, despite being a NATO ally, has not only experienced strain in its relationship with the United States, but also severe economic crisis as well and these three powers came together after all doors were closed to them. They call it like “Axis of Good” against the American term used by President George W Bush for the trio Iran, Iraq and North Korea as “Axis of Evil”. This is going to be detrimental to the United States, as more pro-Moscow countries and anti-American powers could join this trio in the near future. It is not just Russia, Iran, and Turkey, but several other countries around the world that seek a new world order against the United States. Let’s understand how they can make this possible. Also Read – Key gas pipeline from Russia to Europe restarts after break
Weakening US-backed oil producers – As Russia and Iran are the two largest oil and gas producing countries, yet they were facing problems due to US-backed sanctions. While Iran faced a lack of critical infrastructure and technology for oil and gas exploration and transportation due to US sanctions, Russia faced supply chain issues due to the lack of hot water ports. With the rapprochement of the countries, the routes of the Persian Gulf can be opened to Russia and Iran will have Russian technology to transfer petroleum products. Together they can break the cartel of US-backed oil producers in the region like Saudi Arabia, Oman, Qatar, the United Arab Emirates and others. A recent deal between Russia’s GAZPROM and Iran’s National Oil Company (NIOC) for a whopping $40 billion is the first step in this regard. Also Read – Concerns over Ukraine transplant resurface as war with Russia continues
Reverse the US Dollar- The coalition has signed a memorandum and is ready to accept their payments in any major currency in the world. Ever since the United States pioneered the concept of the Petro dollar, the US dollar has become the most important foreign currency in the world. Globally, countries not only trade in US dollars, but also maintain large US dollar deposits as foreign exchange reserves. Currently, the United States has over $2.5 trillion outstanding in the form of banknotes and over $25 trillion outstanding in the form of bonds, treasury bills and other instruments. That’s far more than its total GDP and almost 55 times more than the entire gold reserves of the United States. If countries start trading in other currencies, the US dollar will return to Washington, causing the US economy to collapse. We saw in the first months of the Russia-Ukraine conflict that the Russian ruble strengthened after Russia started trading in its own currency.
Implementation of a new supply chain system (INSTC): Recently, Russia proposed a new transshipment route via Astrakhan in Russia, passing through the Caspian Sea, Iran and finally reaching a port in southern Iran may be the future of the world. While the International North-South Transport Corridor (INSTC) is primarily intended to target Asian markets, it can also do the reverse to pave the way for India and other Asian countries to ship its goods to India. Europe via Iran, Turkey, Azerbaijan and Russia. While China has failed to set up its Belt and Road Initiative (BRI) due to Pakistan’s inability to set up CPEC, INSTC can be a good answer to the problem. Western hegemony and can bring relief to Asia and Europe by creating the basis for mutual trade.
A new military alliance: We all know that Iran has become a great military power as it was under continuous threat from a US-led invasion in recent years. It has created large stockpiles of missiles, drones and other conventional weapons. On the other hand, Russia is already an established military power in the world that is on a par with the United States. Turkey is a NATO ally but its relationship with the United States is strained beyond critical limits. If we see the geostrategic situation of these countries, we can say with certainty that if this alliance turns into a military alliance, they will be the greatest military power in the world with controls over Asia and Europe.
Opportunities for India: India has at times faced problems with the United States. There have been several cases. The CAATSA threats, the use of threatening words by US NSA Congressman Daleep Singh during his visit to India and several other instances of arm twisting by the White House are examples. India already has Iran’s Chabahar port on lease, which can be a key factor not only for INSTC, but also for an important part of the future supply chain system to other parts of Asia. and Europe. On the other hand, India can be a transit point for goods traveling between Russia/Iran to the rest of Asia and vice versa and can effectively counter Chinese influence by sending its goods to Europe to a cheaper price. It is therefore a win-win situation for India, but at the cost of straining relations with the United States.
Today, the Russian-backed coalition of Russia, Turkey and Iran is full of anticipation and assumptions, but it is very rapidly turning into reality and, if fully materialized and operational, erase American hegemony from the world. Although time will tell the true outcome, it presents India with a plethora of opportunities that can once again put our country on the podium.
Amit Bansal is a defense strategist with a keen interest in international relations and homeland security. He is also an author, blogger and poet.
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