‘4F’ crisis cannot be left to itself: Jaishankar calls for global guardrails

External Affairs Minister S Jaishankar has called for global guardrails to address the '4F' crisis of fuel, food, fertiliser and finance, warning that the international community must develop frameworks to ensure stability amid geopolitical tensions. The comments were made during the first-ever Partners for Multilateralism, International Law, Peace and Prosperity (P4M) Summit held in New York on the sidelines of the 81st session of the United Nations General Assembly (UNGA).

Jaishankar highlighted that the world has witnessed a steady rebalancing over decades, but recent extreme competition, geopolitical tensions and actual conflicts have significantly altered the landscape. India, which co-sponsored the inaugural multilateralism summit, stressed the need for participative deliberations and transparent decision-making.

As the 15-nation UN Security Council remains deeply polarized, with five permanent, veto-wielding members, Jaishankar emphasized the importance of de-risking and diversifying to address specific dimensions of ongoing conflicts while seeking broader peace. He also reiterated that multilateralism will be best served when international law, rules and norms are scrupulously observed, and its advocacy and practice must both be strengthened for multilateralism to forge ahead.