Iran said Friday it wants to preserve the current ceasefire to give diplomacy a chance despite distrusting the United States. The UAE also accelerated a major oil pipeline project to bypass the Strait of Hormuz after recent disruptions. The developments are significant for global oil markets, regional stability, and international shipping routes.
Iranian Foreign Minister Abbas Araghchi said Tehran remains open to negotiations if Washington acts seriously. Speaking at the BRICS foreign ministers’ meeting in New Delhi, he criticized what he called contradictory US messages. Araghchi also denied Iran caused disruptions in the Strait of Hormuz and said Tehran only acted defensively during the conflict.
Read more: Iran urges BRICS nations to condemn war
Meanwhile, the United Arab Emirates announced plans to fast-track a major pipeline expansion project. Abu Dhabi Crown Prince Khaled bin Mohamed bin Zayed Al Nahyan directed ADNOC to accelerate the West-East Pipeline project, expected by 2027. The expansion will strengthen the UAE’s ability to export oil outside the Strait of Hormuz during regional instability.
At the same time, the US State Department offered rewards of up to $15 million for information on six individuals linked to Iran’s drone-production operations. Washington said the suspects were associated with the IRGC Quds Force company KIPAS. Energy prices have also risen sharply because of supply concerns and uncertainty surrounding Gulf shipping routes.
Read more: US Considers Military Action After Iran Talks Stall
China called for an early end to the conflict and urged all sides to maintain diplomatic momentum. A Chinese Foreign Ministry spokesperson said reopening shipping lanes quickly would help stabilize global supply chains. However, BRICS members failed to issue a joint statement after talks in New Delhi, reflecting divisions over the Middle East crisis.