Geopolitical Tensions And Energy Disruptions Drive Up Global Fuel Prices, Araghchi Says
Geopolitical tensions and disruptions to energy supplies are affecting countries worldwide, contributing to protests in Europe and rising fuel prices, Iranian Foreign Minister Abbas Araghchi said in an opinion article published in Russia's Vedomosti newspaper.
"Any disruption or confrontation has consequences that extend far beyond our region, affecting energy security, market stability, and the economic interests of producers and consumers worldwide. Just look at the current protests in European countries and the sharp rise in inflation and fuel prices in Europe and the United States," he emphasized.
The Islamic Republic's foreign minister added that US and Israeli military operations against Iran, along with ongoing military threats, had led to the closure of the Strait of Hormuz and disrupted global gas supplies, particularly to Asia.
He also noted that gas prices in Europe had risen sharply and that gas storage levels ahead of winter were lower than during the same period last year.
Araghchi called on fuel producers to strengthen dialogue, diversify supply routes, protect critical infrastructure, and establish practical mechanisms to mitigate the impact of geopolitical shocks on global energy markets.
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