S. Jaishankar cautioned on 28 September 2026 that the world faces a looming triple crisis – energy, food and fertiliser – that will hit Global South hardest.
Key Developments
- Jaishankar described the situation as “very very stressful” for economies of the Global South.
- The Ukraine conflict and the emerging Iran‑Gulf conflict have together tightened oil markets and raised prices.
- Major grain exporters are unable to ship through the Black Sea, threatening global food availability.
- Key fertiliser producers in West Asia and Russia are constrained, creating worldwide fertiliser shortages.
- A super El Niño could worsen food scarcity in the coming months.
Important Facts
The minister highlighted that energy markets are “very tight” and political manipulation of oil supplies can create a “double crisis”. He warned that financial flows shift to safe‑haven assets during conflicts, leaving developing nations with reduced capital access. The combined stress on energy, food, fertiliser and finance could trigger political instability, especially in regions already affected by the Ukraine war.
Exam Relevance
This briefing touches upon several GS topics: International Relations (impact of the Ukraine and Iran‑Gulf conflicts), Energy Security (oil market tightness), Agricultural Economics (grain export routes, fertiliser supply), and Environmental Challenges (super El Niño). Understanding how external shocks affect the Global South helps answer questions on development economics, food security, and geopolitical risk‑management.
Way Forward
Jaishankar urged countries to act with “sound common sense” and avoid policies that exacerbate shortages. He called for coordinated diplomatic efforts to keep oil and grain routes open, diversify fertiliser sources, and build climate‑resilient agriculture. For the Global South, strengthening strategic reserves and seeking multilateral support can mitigate the projected crisis.