❗️Iran warns new Israeli-led escalation will inflict ‘devastating’ shock on global energy markets Iranian Foreign Minister Abbas Araghchi warned on Wednesday that any new military escalation instigated by Tel Aviv in the Persian Gulf would inflict a “devastating impact” on international energy markets. Writing on social media following the Gas Exporting Countries Forum (GECF) Summit in Moscow, Araghchi stated that potential military disruptions to Persian Gulf energy transit remain a primary security concern for global gas suppliers and consumers alike. The warning was echoed by Iranian President Masoud Pezeshkian during high-level talks with international delegates in the Russian capital. The Iranian foreign minister's remarks come directly in response to heightened bellicose rhetoric from West Jerusalem and Washington, following an unprovoked US-Israeli joint military offensive launched on 28 February. While attempting to construct a viable parliamentary coalition after razor-thin election results, Israeli Prime Minister Benjamin Netanyahu boasted on Wednesday that he sees a "unique opportunity" to partner with US President Donald Trump to eliminate what he termed the "existential threat" of Iran.