Iran warns any Israeli-led attack will be ‘devastating’ for global markets

TEHRAN – Iran’s Foreign Minister Abbas Araghchi warned on Oct 28 that any Israeli-instigated attack in the Gulf region would have a “devastating impact” on global markets.

“Devastating impact on international markets of any Israel-instigated military misadventure in the Persian Gulf region remains a major concern for both gas suppliers and consumers,” Araghchi said in a post on X.

The United States and Israel have, in recent days, raised the prospect of renewed attacks on Iran in the Middle East war that began in February with strikes on the Islamic republic.

Israeli Prime Minister Benjamin Netanyahu, who is seeking to form a new government after close elections, said on Oct 28 he could work with US President Donald Trump to eliminate the “existential threat” posed by Iran. AFP