Iran's Foreign Minister warns Israeli action in the Gulf would hit world markets

Tehran says the US blockade has cut its imports by 25 per cent, and Qatari mediators have put a new draft deal to Iran.

Iran's Foreign Minister said any military action in the Gulf region instigated by Israel would have a devastating impact on international markets. He said the risk remains a major concern for both gas suppliers and consumers.

The Strait of Hormuz remains at the centre of the standoff. US Central Command (CENTCOM) says US forces and regional partners control the international waterway, and that Iran does not. Iran's navy says a tanker hit sea mines east of the strait. Iranian state TV says the US blockade of Iran must be lifted before talks to reopen the strait can move forward. Tehran says the blockade has cut its imports by 25 per cent.

Qatari mediators have presented Iran with a new draft deal in Tehran, according to an official briefed on the talks. Tehran will reply by the end of the week. Iranian state TV says Iran is open to a shorter timeline for the US proposal if its conditions are met. Israeli officials say Netanyahu is pushing for a new attack on Iran before Israel's election. Fox reported that Washington is sending a third aircraft carrier strike group and 10,000 more personnel toward the Persian Gulf. Fox also reported remarks by US Energy Secretary Wright that the Iran war has come at a cost.

The minister's statement adds no new fact. It mainly repeats a Gulf risk that has been present for some time. Israel's vote count is still unresolved and its coalition dynamics are uncertain. Any shift from words to an actual strike would matter far more to market sentiment than this statement alone.