Pezeshkian: Actions against Iran destabilise energy markets and trigger dangerous price shocks

Iranian President Masoud Pezeshkian is in Moscow to attend the eighth summit of the Gas Exporting Countries Forum (GECF), RBC reports.

“During this visit, in addition to attending the summit and delivering a speech, the president will meet with his Russian counterpart and several leaders of participating countries to discuss ways to develop trade and economic cooperation,” the Iranian president’s office said.

In his address to the summit, Pezeshkian said Iran is ready to pursue investment initiatives under the auspices of the GECF.

He also stated that US actions against Iran were destabilising energy markets and triggering dangerous price shocks.

According to Pezeshkian, the US naval and air blockade of Iran constitutes a flagrant violation of international law.

The GECF is an international intergovernmental organisation established in 2001. It has 12 member countries, including Russia, Iran and Qatar. According to the forum, its members hold approximately 70% of the world’s proven natural gas reserves and account for 42% of global gas exports.