Russia Warns Middle East Tensions Threaten Global Economy

Russia stated on Thursday that the renewed escalation of tensions in the Middle East, resulting from the latest exchange of attacks between the United States and Iran, has the potential to threaten the global economy as a whole. Moscow also reiterated its call for all parties to return to the path of negotiation.

The latest round of escalation is fraught with new and additional negative consequences, both for the situation in the region and for the international economy overall, Kremlin spokesman Dmitry Peskov told reporters at a press conference. Peskov urged all sides to show restraint and return to the negotiating table to de-escalate the situation.

The exchange of attacks between the United States and Iran continued for a second consecutive day. US President Donald Trump warned that Washington would launch additional strikes if Tehran did not promptly accept a peace deal.

In a statement, US Central Command said American forces struck several military targets in Iran from Wednesday night into the early hours of Thursday. CENTCOM stated the strikes were an act of self-defence after an American military helicopter was shot down in the Strait of Hormuz.

Previously, Trump said Iran had delayed the negotiation process for too long and must bear the consequences. Negotiations had been ongoing since a ceasefire was reached in April, which reopened the Strait of Hormuz after its closure had hampered oil and gas exports, and aimed to reach an agreement on the status of Iran’s nuclear programme.

The talks, mediated by Pakistan, focused on efforts to permanently end the war that began on 28 February. On Wednesday, the Russian Foreign Ministry stated it was deeply concerned about the escalating tensions and called on all parties to exercise restraint and immediately cease attacks.