Iranian Foreign Minister Araghchi Vows Policy Continuity Amid Oil Market Volatility
Tehran asserts that indirect diplomatic channels remain open with Washington as Brent crude stabilizes near $115 per barrel and regional security talks commence in the capital.
By Lauren Bello ·
Iranian Foreign Minister Abbas Araghchi stated on Sunday that Tehran's strategic positions will remain unchanged regardless of whether the United States resumes military strikes. This declaration occurred as global energy markets stabilized, with Brent crude trading near $115 a barrel early Monday. The comments provide a clear signal to investors and allies that the Iranian government intends to maintain its current diplomatic and military posture during a period of heightened regional tension.
The diplomatic situation evolved rapidly over the past week. President Donald Trump suggested on Friday that the U.S. might launch another operation similar to the joint campaign that began on Feb. 28. He also claimed American control over the Strait of Hormuz. By Sunday, Araghchi confirmed that indirect contacts with Washington were still active. Esmaeil Baqaei, a spokesperson for the foreign ministry, added that the window for diplomacy remains open, noting that messages continue to be relayed through intermediaries despite a recent stall in direct negotiations.
Market participants are closely monitoring supply risks. The U.K. navy's Maritime Trade Operations center reported on Monday that a tanker exiting the Strait of Hormuz was struck by an unknown projectile on Friday, rendering it disabled. The crew was reported safe. This incident follows claims by Tehran of attacking at least four tankers in the same area on Thursday, assertions that President Trump has previously challenged. Energy prices had risen sharply earlier in the week due to concerns about supply disruptions in the Middle East and Ukraine as winter demand approaches.
Diplomatic efforts to ease tensions are scheduled for immediate action. Saudi Defense Minister Khalid bin Salman, Pakistani army chief General Asim Munir, and Turkish intelligence chief Ibrahim Kalin are expected in Tehran on Monday for security discussions. Iranian authorities confirmed that security chief Mohsen Rezaei will participate in the talks. Saudi Deputy Minister for Public Diplomacy Rayed Kaimly described the visit as a support for de-escalation and mediation efforts led by Qatar and Pakistan.
Security dynamics in the region remain fluid. In Yemen, the Saudi-led coalition intercepted a ballistic missile aimed at Riyadh and destroyed two launchers in Sanaa. The Houthi group claimed responsibility for hitting Riyadh's international airport with a missile shortly after flights resumed. In Israel, Prime Minister Benjamin Netanyahu warned that Iran and its proxies might attempt to disrupt the upcoming U.S. midterm elections. He described media reports of a dispute with army chief Eyal Zamir as baseless, while Iran's foreign ministry stated that the election outcome would not alter Tehran's approach.
The next phase of diplomatic engagement begins Monday with the arrival of the regional security delegation in Tehran. The outcome of these talks, combined with the results of the U.S. midterm elections scheduled for Tuesday, will likely determine the trajectory of indirect negotiations between Washington and Tehran in the coming weeks.
