Iran warns of market shock from potential gulf conflict
Iranian Foreign Minister Abbas Araghchi
Abdullateef Fowewe
Iran’s Foreign Minister Abbas Araghchi has said that Tehran’s energy diplomacy advanced at the Gas Exporting Countries Forum (GECF) Summit, while flagging risks to global markets from any military escalation in the Persian Gulf region.
In a post on on Wednesday, Araghchi wrote, “Iran’s energy diplomacy advanced at GECF Summit. Discussions focused on global gas markets and energy security.”
He added, “Devastating impact on int’l markets of any Israel-instigated military misadventure in Persian Gulf region remains major concern for both gas suppliers and consumers.”
The comments came after the 8th GECF Summit of Heads of State and Government, held in Moscow on 27 October 2026 to mark the organisation’s 25th anniversary.
Russian President Vladimir Putin hosted the gathering, which was attended by Iranian President Masoud Pezeshkian and other high-level representatives from major gas exporters, including Qatar’s Emir.
GECF member countries control a large share of global natural gas reserves and exports.
Leaders adopted a Moscow Declaration that expressed deep concern over the impact of geopolitical developments, particularly in the Middle East, on the stability and security of the global gas market.
Discussions centred on the role of natural gas in energy security, reliable supplies, and greater cooperation among producers.
Iran, which holds the world’s second-largest proven gas reserves, used the summit to push for stronger coordination among exporters, protection of energy infrastructure, and expanded trade and investment ties.
