Tehran: Iran has cautioned that a fresh Israeli-led attack could cause severe damage to global markets. The warning came as Israel’s election count continued and Tehran said it was still discussing a mediated plan to end the war and reopen the Strait of Hormuz, AFP reported.
Foreign Minister Abbas Araghchi said any Israeli-triggered military action in the Gulf would hurt both gas-producing countries and the nations that buy their fuel. He was referring to discussions held at the Gas Exporting Countries Forum in Moscow.
“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,” Araghchi said in a post on X.
The war, which began in February with US and Israeli strikes on Iran, has badly disrupted energy shipments through the Gulf. Iran has restricted movement in the Strait of Hormuz, a route that once carried around one-fifth of the world’s oil and liquefied natural gas, while the United States has blockaded Iranian ports in response.
Diplomacy Still Open
Araghchi said Iran remained in touch with mediators over its seven-day proposal to stop the conflict and restore traffic through Hormuz. He said Tehran was willing to test diplomacy even as its forces stayed ready for any attack.
“While our Brave Armed Forces are fully prepared to defend the Homeland, Iran continues to give diplomacy a chance to succeed,” he said. “We remain in close and ongoing contact with intermediaries to review ideas that can ensure implementation of our 7-Day Plan in even less than a week.”
Under the plan, Iran has said the strait could reopen within seven days if a ceasefire covers the wider Middle East. Tehran has also demanded access to frozen assets overseas, an end to sanctions affecting its oil sector, and the removal of the US naval blockade.
Washington earlier rejected the proposal, and direct talks between the two governments have remained frozen. Axios reported that Qatar-led mediators were trying to arrange a diplomatic deal, possibly allowing UN inspectors to visit bombed Iranian nuclear sites in return for limited US sanctions relief.
Israel Vote In Focus
The warning came as Israel counted votes from Tuesday’s election, with no clear winner between Netanyahu’s bloc and the opposition led by former military chief Gadi Eisenkot. The result could influence whether Israel returns to war with Iran.
Netanyahu has called Iran an “existential threat” and has promised to bring down its government. Eisenkot cautioned Israel’s military leadership against allowing the prime minister to use security matters for political gain.
“Netanyahu, don’t you dare use Israel’s security for your political needs,” Eisenkot said.
The Wall Street Journal reported that Washington had asked several Gulf Arab states to prepare for a possible “short, intense military campaign” against Iran after the US midterm elections on November 3, though President Donald Trump had not yet decided.
Iran’s military has threatened a wider response if attacked again. Security chief Mohsen Rezaei said US-linked infrastructure, including data centres and artificial-intelligence facilities, could be targeted. Tehran has called Netanyahu’s threats to topple its government “empty” and “a sign of desperation”.