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Oil prices rise in Asian markets after US–Iran talks stall; Abbas Araghchi arrives in Russia

Asian Mail Monitoring News Desk

Iran’s Foreign Minister Abbas Araghchi arrived in the northwestern Russian city of Saint Petersburg on Monday morning. According to Iran’s state news agency Islamic Republic News Agency, Iran’s ambassador Kazem Jalali and several Russian officials welcomed him upon arrival.

Reports say Araghchi travelled on “Flight Minab 168”, the same flight he previously used to visit Pakistan with an Iranian delegation for the first round of negotiations with the United States. The flight has been named in memory of children killed in attacks on a school in Minab, in Iran’s Hormozgan province, attributed to the US and Israel.

The purpose of his visit is said to be meetings and talks with Russian President Vladimir Putin.Prior to visiting Russia, Araghchi travelled to Muscat on Sunday, where he met Omani officials.

He also visited Islamabad for the second time in three days, holding brief meetings with Pakistani authorities before departing for Moscow.

Oil prices rise in Asia after US–Iran talks stall

Oil prices rose in Asian markets on Monday morning as a second round of talks between the United States and Iran appeared to stall once again.

Getty Images

The global benchmark Brent crude rose by 2.2% to $107.70 per barrel, while US crude increased by 2.1% to $96.40 per barrel.

This development follows remarks by US President Donald Trump, who said on Saturday that Washington had cancelled a planned visit by a delegation to Pakistan for negotiations with Iranian officials.

Since the start of the Iran conflict, global energy supplies have been under significant pressure. Iran has closed the Strait of Hormuz in response to US and Israeli airstrikes and has threatened attacks on commercial shipping passing through the vital route.

Araghchi said on Sunday that important discussions were ongoing with Oman—located along the Strait of Hormuz—regarding bilateral issues and regional developments.

In a social media post, he said Iran was focused on ways to ensure safe maritime navigation “in the interest of all neighbouring countries and the world”.

Reuters

He added: “Our neighbours are our priority.”Around one-fifth of the world’s crude oil and liquefied natural gas (LNG) typically passes through the Strait of Hormuz.

Iran–Pakistan talks focused on bilateral ties and regional situation

Iran’s ambassador to Pakistan, Reza Amiri Moghadam, said the recent visit by the Iranian delegation aimed to review bilateral relations and consult on the regional situation, adding that the visit concluded successfully.

In a statement posted on X, he said the trip formed part of Araghchi’s wider regional diplomatic tour. He noted that the government, military and people of Pakistan provided full cooperation during the visit.

He also thanked Prime Minister Shehbaz Sharif and Field Marshal Asim Munir for their efforts towards ending conflict in the region and promoting lasting peace.

Visit conducted under tight security

The ambassador added that, as in previous visits, the Iranian delegation’s trip took place in a calm and secure environment, made possible by effective planning and arrangements by Pakistani authorities.

He thanked military personnel, security forces, police, government officials, and especially the residents of Islamabad for their hospitality, cooperation and patience.He also expressed commitment to further strengthening ties between Iran and Pakistan.

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