President Masoud Pezeshkian has warned that US acts of military aggression in the Persian Gulf are jeopardizing global energy security and economic growth.

Addressing the 8th Summit of Gas Exporting Countries Forum (GECF) in Moscow on Tuesday, the Iranian president drew attention to the severe geopolitical challenges facing global energy markets, specifically pointing to the devastating impacts of foreign military aggression on regional stability.

“The military aggression by the United States and the Zionist regime against the Islamic Republic of Iran, occurring in two phases and in the midst of political negotiations, was one of the most regrettable and dangerous events against global security,” Pezeshkian stated.

The Iranian president said the attacks destroyed Iran’s energy facilities and disrupted energy transfer processes, thereby endangering the global economy.

Condemning ‘economic terrorism’ and blockades

President Pezeshkian condemned Washington’s use of “economic terrorism,” including through unilateral sanctions and naval and air blockades against Iran, as well as the heavy pressure exerted on other nations to comply with its illegal mandates.

“These illegal actions have seriously jeopardized the stability of energy markets and must be condemned and effectively countered by the world’s major energy suppliers.”

Pezeshkian emphasized the far-reaching consequences of Western militarism in the region.

“Today, US military interventions in the Persian Gulf region do not just affect regional players; by creating serious shocks, they disrupt the pricing, supply, and transfer of energy, and jeopardize economic growth worldwide.”

A call for multilateral energy diplomacy

Praising the GECF, which has been active for over two decades, as a vital symbol of multilateral gas diplomacy, the Iranian president called on member states to expand cooperation in two primary areas of “strategic governance and management” to ensure market stability and boost trade volumes as well as “technical and engineering operations” to foster joint investments across the entire gas value chain.

President Pezeshkian underscored the need to enhance technological capacities to increase productivity and mitigate the environmental impacts of gas production and consumption.

To achieve this, he urged members to translate existing capacities into practical projects, aligning the forum’s long-term strategy with market shifts and the future horizon of global supply and demand.

Iran’s energy resilience amidst sanctions

Highlighting Iran’s position as a founding member of the GECF and the holder of the world’s second-largest proven natural gas reserves, Pezeshkian announced Tehran’s readiness to play a more active role in multilateral diplomacy, knowledge exchange, and infrastructure investment.

He also emphasized Iran’s strategic location at the heart of the world’s most crucial energy corridors, offering foreign investors the opportunity to utilize incentives in the oil, gas, and petrochemical sectors without concern, reaping the benefits of Iran’s unparalleled capacities within a framework of shared interests.

Underscoring the nation’s resilience against years of crippling unilateral sanctions, the president said Iran has successfully leveraged domestic capabilities to boost its natural gas production capacity to 300 billion cubic meters (bcm).

“We have maintained our rank as the third-largest natural gas producer in the world.”

Furthermore, Pezeshkian highlighted that natural gas accounts for a massive 70 percent share of Iran’s domestic energy basket, with 95 percent of the population now connected to the national gas grid.

Concluding his address, Pezeshkian expressed confidence that constructive cooperation among GECF members can ensure the security of supply and demand, the fair pricing of natural gas, and its elevated role in the global energy basket while respecting vital environmental considerations.

He called for the active participation and collaboration of energy ministers, the GECF Secretary-General, and the secretariat staff to achieve these shared goals and navigate the complex geopolitical landscape of the modern energy market.