Monash University Media Release
Monash experts comment on the fall out of the Iran-Israel conflict.
Dr Ben Zala, of the School of Social Sciences observes that:
“From what we know so far about the strikes against the nuclear facilities, there has been extensive damage done already but Israel is likely to continue bombing over the next few days at least. The most important sites are deep underground and in what are essentially hardened bunkers.
“The extent, and type, of Iranian retaliation will also dictate how long both sides continue to strike each other. It is very likely that attacks of different kinds will continue for some time yet, which means any effect on global markets could play out over weeks and even months.
“A number of external states with military and other interests in the region have moved forces there including the United States and the United Kingdom. If Iran chooses to widen its reprisals to include American or British military bases and assets, then the chance of escalation increases greatly. We know from history that at that point, a crisis becomes much more difficult to control.”
Professor Robert Brooks, Professor of Econometrics and Business Statistics, Monash Business School notes that:
“The conflict has disrupted supply chains and pushed oil prices higher, making them more volatile. This kind of uncertainty is particularly concerning for Australia, where we operate under an international price parity model for energy.
“As global oil prices rise, so too do local energy costs – which feeds into broader inflationary pressures. That not only affects household budgets but also potentially dampens consumer spending and business investment confidence.”
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At the time of the Israeli attack on Iran took place, talks between the US and Iran were underway in Oman, to come to an agreement on Nuclear issues. This was when Israel chose to pre-emptively attack Iran thus bringing the talks to an abrupt halt.
When Iran retaliated, Israel warned them that this would lead to an expansion of the conflict and Teheran and its citizens would be obliterated.
Why is it that the attack on Iran took place with US tacit approval when talks were underway in Oman and why is it that Israel is able to call its actions ‘self-defence’ yet Iran is classed as a belligerent?
Rhetorical questions, I know but there’s a lot of cynicism around at the moment !
Terry, I share your cynicism. We both can’t be wrong.