The Iranian Minister of Foreign Affairs, Abbas Araqchi, warned on Wednesday that any military action “instigated by Israel” in the Persian Gulf would have a “devastating impact” on international energy markets. The statement was made on the social media platform X during a briefing that followed Iran’s participation in the Gas Exporting Countries Forum (GECF) summit held in Moscow. Araqchi said the summit focused on global gas markets and energy security, and that Iran’s energy diplomacy had advanced during the event. The warning comes amid reports that the United States and Israel have been developing plans to resume attacks on Iran, possibly after the midterm elections scheduled for November 3. Iran and the United States continue to contest control of the Strait of Hormuz, a critical shipping lane for global oil and gas transport. Tehran has maintained that the strait remains closed and has reported at least 16 incidents involving ships and oil tankers since early October, including attacks and collisions with naval mines. The U.S. Central Command (CENTCOM) said on Sunday that more than 3,000 commercial vessels had passed through the strait in the past six months with U.S. naval support. Oil prices have reflected the heightened tensions. Brent crude reached $116.72 per barrel on Friday, its highest level in more than four years, before falling for two days and rising again to around $115 per barrel on Wednesday. Washington has imposed additional sanctions on Iran and is maintaining a naval blockade around Iranian ports. Negotiations to resolve the conflict remain stalled.
Article source: El Nuevo Diario | Image credit: El Nuevo Diario