External Affairs Minister S Jaishankar has underlined a key distinction between India and Iran on the nuclear issue, stressing that the two countries occupy fundamentally different positions under the global non-proliferation framework.

Speaking at the Munich Leaders Meeting, Jaishankar noted that India chose not to sign the Nuclear Non-Proliferation Treaty (NPT) and therefore retained its sovereign rights outside the treaty framework. Iran, by contrast, signed and ratified the NPT and is consequently bound by the obligations associated with it.

Referring to concerns surrounding Iran's nuclear programme, Jaishankar said India's primary focus is currently not the nuclear debate itself but the wider consequences of the conflict in West Asia, particularly disruptions to energy flows and international trade.

He emphasised that the distinction between India and Iran is significant because Iran accepted treaty commitments as a Non-Nuclear Weapon State, placing its nuclear facilities under International Atomic Energy Agency monitoring and safeguards.

India, meanwhile, remains one of the few United Nations member states that never joined the NPT and maintains a nuclear weapons capability alongside a declared no-first-use policy.

Turning to the economic implications of the regional crisis, Jaishankar warned that instability across West Asia is having direct consequences for ordinary people around the world.

He said unsettled energy markets affect household budgets, employment and livelihoods, particularly in countries that rely heavily on the region for energy supplies.

The minister highlighted India's vulnerability to prolonged disruption given its substantial dependence on imported crude oil. Any interruption to shipping routes in and around the Persian Gulf, or persistent increases in global oil prices, can feed into domestic inflation, higher transport and fuel costs, and broader pressure on consumers.

Jaishankar called for the restoration of uninterrupted energy supplies, trade routes and international mobility, arguing that many countries are bearing economic costs despite having no direct involvement in the conflicts driving the instability.

He also expressed hope that any eventual resolution would remain consistent with international law and established global norms.

The comments came amid heightened uncertainty over future United States policy towards Iran.

US President Donald Trump said Washington would soon decide its next course of action regarding Iran, suggesting the matter could be resolved either the "easy way" or the "hard way". He also claimed that Iran had been severely weakened, though he declined to provide details of forthcoming measures or a timetable for any decision.

In separate remarks, Trump stated that developments were proceeding favourably from the US perspective and asserted that Iran was facing significant difficulties. However, he again stopped short of outlining specific policy steps.

On the Iranian side, President Masoud Pezeshkian announced that Tehran had adopted a new framework to manage what he described as exceptional economic circumstances.

Pezeshkian accused the United States and other adversaries of attempting to sever critical economic lifelines through sanctions and financial pressure aimed at weakening the Iranian economy and increasing hardship for its population.

According to the Iranian president, economic pressure has intensified in recent months, but he argued that public support and government measures have prevented outside opponents from achieving their objectives.

The developments form part of a broader US sanctions campaign targeting key sectors of the Iranian economy, including energy, shipping, technology, gold and digital assets.

The wider backdrop remains a deepening crisis across West Asia, where geopolitical tensions continue to threaten energy security, maritime trade routes and global supply chains. For import-dependent economies such as India, sustained instability in the region risks higher energy costs, inflationary pressure and slower economic growth, making a swift return to stability a significant strategic and economic priority.

ANI