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Iran Warns Devastating Impact on World Markets If Israel Resumes Hostilities
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Iran warned of devastating impact on world markets if hostilities resume. Iran says it is holding talks with mediators to end the conflict and reopen the Hormuz Strait.
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Iran warns, Netanyahu votes
Iran warned that a resumption of hostilities in the Middle East would have a “devastating impact” on world markets as Israel continued tallying votes from elections that could define the future of the regional war.
Iran’s Foreign Minister Abas Araghchi wrote on X that “The devastating impact on international markets of any military action instigated by Israel in the Persian Gulf region remains a major concern for both gas suppliers and consumers,” while Israel’s prime minister Benjamin Netanyahu continued to frame the campaign around the possibility of launching a new attack on Iran.
DW reported that Iran asserted it was holding talks with mediators on ending the conflict and reopening the strategic Strait of Hormuz, a day after Netanyahu’s warning.
DW said the legislative elections gave Netanyahu’s bloc a slight edge, and Netanyahu told voters Israel had a “unique historic opportunity” together with U.S. President Donald Trump to “eliminate the existential threat” posed by Tehran once and for all.
Elections, caretaker, and escalation
Reuters said Israelis voted in record numbers in Tuesday’s wartime election, and it forecast Netanyahu’s bloc of right-wing, hardline and ultra-Orthodox parties winning 53 seats in parliament, surpassing 48 for the opposition bloc of rival Gadi Eisenkot. Reuters also said Netanyahu called for the formation of “a strong, right-wing national government,” while it described Netanyahu as winning support of an unexpectedly clear majority of Israeli Jews and surviving at least in a caretaker role.
In Israel, the BBC reported that Prime Minister Benjamin Netanyahu seized the campaign to boast of the possibility of launching a new attack on Iran, insisting once again that the Islamic regime must be toppled. The BBC said Gadi Eisenkot had explicitly warned against escalating the war for political purposes, while it described the election as taking place amid speculation about whether a caretaker period could affect decisions about Iran.
Global stakes and market risk
DW said the war disrupted the exports of the region’s oil monarchies and shook the world economy by sending crude and gas prices to their highest levels in years, with Brent closing Wednesday higher than $115 up from about $70 before the war. DW reported that European gas topped €100 per megawatt hour for the first time in four years, and it quoted Araghchi on X about concerns for gas suppliers and consumers.
DW said Iran warned it would respond with larger-scale retaliation aimed at infrastructures linked to the United States in the Middle East, particularly data centers and artificial intelligence systems, if hostilities resumed. DW added that Iran conditioned the reopening of the strait on a seven-day ceasefire, the unblocking of its assets held abroad, the lifting of sanctions affecting its oil sector, and the end of the U.S. naval blockade against its ports.