Page 18 - CMA Journal (Mar-Apr 2026)

importance of the Middle East to great power politics, and
“ Pakistan remains the perhaps even enhance regional security and stability as a
side effect of such a withdrawal. Certainly, the current crisis is
most viable diplomatic in many ways similar to the COVID-19 pandemic, pulling
back the curtain on the realities of geo-economics, especially
option at the moment, in terms of supply lines and general interconnectedness
between countries in the globalised age. If the con ict does
and whatever the wider worsen, which on balance seems highly likely at this stage in
late April 2026, and result in regional recessions or worse,
outcome, will emerge then these debates and their consequences will only rise in
importance.
with its status ICMA: How viable is Pakistan's role as a diplomatic
facilitator or bridge-builder in sensitive regional
significantly heightened, engagements, including potential US–Iran dialogue in a

both regionally neutral setting?
Chris Ogden: Through diplomatic and religious links across
and globally, for the the region, which encompass the major actors central to this
con ict within the Middle East, Pakistan has been able to
efforts that it has craft an in uential position for itself concerning the present
con ict. Uniquely positioned both geographically and
made thus far. “ culturally towards Tehran, but also with historical security
linkages towards the US, Islamabad has emerged as a
diplomatic facilitator concerning the current war. This
position has been legitimised by both Tehran and
military forces from the region, forcing Israel to withdraw
Washington, who have been receptive to Pakistan acting in
from Lebanon and also its demands to receive reparations
this capacity. Ultimately, however, the degree to which this
from this con ict, as well as assets frozen by the US and
role will result in success will come down to the actions and
others through many years of sanctions. When combined
with its intentions to monetize the Straits of Hormuz through personalities of the leadership in the US, Iran and Israel.
Certainly, concerning the latter, Israeli leaders' security
the introduction of petroyuans as detailed above, these
measures would align the region around Iran and its close concerns encompass many more issues than just Iran alone,
partnerships with China, India and Russia, and thus away which may make coming to a durable peace more difficult to
from the United States and the West. It remains to be seen achieve. In turn, given that previous rounds of negotiations
what this will mean for Israel's position in the region but if between Iran and the current US administration led by
Washington were to completely withdraw, as well as President Trump were interrupted by the assassinations of
potentially have weaker relations with a range of Gulf states Iranian negotiators, as well as the bombing of Iranian
who themselves may well be more closely aligned or at least territory, it suggests that building adequate levels of trust to
tilted towards China, Tel Aviv may nd itself in a highly result in successful negotiations may not be easy to achieve.
isolated position. That stated, Pakistan remains the most viable diplomatic
option at the moment, and whatever the wider outcome, will
More broadly, and given the energy shocks already
emerge with its status signi cantly heightened, both
emanating from the region which look set to get far worse,
regionally and globally, for the efforts that it has made thus
fundamental questions are being asked by all states large far.
and small about the practicalities and wisdom of being
dependent upon gas and oil, not only from the Middle East
but elsewhere. If these debates are allowed to follow The Editorial Board thanks Mr. Chris Ogden, Associate
through to their logical conclusions, a resultant expansion Professor in Global Studies, University of Auckland (New
and perhaps even revolution in green technology and Zealand) for sparing his precious time to give an exclusive
renewable energy may well diminish the geostrategic interview for Chartered Management Accountant Journal.

Editor's Note: The views expressed in this interview are those of the interviewee and do not reflect the official position or views of ICMA.

16 ICMA’s Chartered Management Accountant, Mar-Apr 2026