Iran warns that a new escalation led by Israel will cause a 'devastating' shock to global energy markets Iranian Foreign Minister Abbas Argachi warned on Wednesday that any new military escalation initiated by Tel Aviv in the Persian Gulf would have a "devastating effect" on international energy markets. Writing on social media following the Gas Exporting Countries Forum (GECF) summit in Moscow, Argachi stated that potential military disruptions to the energy transition in the Persian Gulf remain a major security concern for global gas suppliers and consumers alike. The warning was echoed by Iranian President Masoud Pazhkian during high-level talks with international representatives in the Russian capital. The words of the Iranian foreign ministers come directly in response to the angry rhetoric from West Jerusalem and Washington, following an uninitiated joint military attack by the US and Israel that was launched on February 28. As he tries to form a viable parliamentary coalition after razor-thin election results, Israeli Prime Minister Benjamin Netanyahu boasted on Wednesday that he sees a "unique opportunity" to cooperate with US President Donald Trump to eliminate what he called the "existential threat" of Iran.

Iran warns that a new escalation led by Israel will cause a 'devastating' shock to global energy markets Iranian Foreign Minister Abbas Argachi warned on Wednesday that any new military escalation initiated by Tel Aviv in the Persian Gulf would have a "devastating effect" on international energy markets. Writing on social media following the Gas Exporting Countries Forum (GECF) summit in Moscow, Argachi stated that potential military disruptions to the energy transition in the Persian Gulf remain a major security concern for global gas suppliers and consumers alike. The warning was echoed by Iranian President Masoud Pazhkian during high-level talks with international representatives in the Russian capital. The words of the Iranian foreign ministers come directly in response to the angry rhetoric from West Jerusalem and Washington, following an uninitiated joint military attack by the US and Israel that was launched on February 28. As he tries to form a viable parliamentary coalition after razor-thin election results, Israeli Prime Minister Benjamin Netanyahu boasted on Wednesday that he sees a "unique opportunity" to cooperate with US President Donald Trump to eliminate what he called the "existential threat" of Iran.