Middle East crisis could impact Sri Lanka s economy – Prof. Tudor Weerasinghe

Political analyst Professor Tudor Weerasinghe discussed today (01) how the current crisis in the Middle East could affect Sri Lanka. During a media briefing, he explained that the world produces about 100 million barrels of oil each day, with nearly 20% coming from the Middle East. He cautioned that any disruption in this oil supply could lead to major changes in the global economy, mainly due to rising oil and gas prices. Prof. Weerasinghe further mentioned that Sri Lanka’s exports might also suffer. “We send a large amount of tea to Iran and also export to Arab nations. In this situation, the ongoing conflict could hinder those operations. Many international flights between countries have already been canceled. This scenario could significantly impact not just the global economy and trade, but also international relations,” he added.