Moscow: Russian Foreign Minister Sergey Lavrov on Friday said that the potential closure of the Bab el-Mandeb Strait would harm international trade, particularly the global oil market. Responding to a question on the situation in the Middle East and its risks for global security during a joint press conference with his Azerbaijani counterpart Jeyhun Bayramov in Moscow, Lavrov said that Russia had 'high hopes' and supported the signing of a memorandum of understanding between the US and Iran.
According to Anadolu Agency, Lavrov expressed concerns that both sides accuse each other of violations and missile exchanges, which could lead to continued security risks in the region. He emphasized Russia's call for a swift ceasefire and a return to a situation where the Strait of Hormuz was completely free and functioning without issues or charges. Lavrov criticized the current circumstances, noting that the calls for resumption of free navigation were disrupted by previous US and Israeli actions.
Lavrov also highlighted the economic risks, given the strategic importance of the Strait of Hormuz as a key trade artery. He warned that the Houthis' threat to close the Bab el-Mandeb Strait amid ongoing military actions against Iran could significantly disrupt global trade, especially affecting the oil market.
Regional tensions have heightened over the Strait of Hormuz, despite a Pakistan-brokered memorandum of understanding signed last month aimed at ending the conflict and achieving a lasting peace agreement between the US and Iran.
In addition to these regional concerns, Lavrov and Bayramov discussed the ties between Russia and Azerbaijan. Lavrov remarked on the 'progressive' development of their relations, following the allied declaration signed by their presidents in February 2022. He stressed the importance of direct media contacts to ensure more objective coverage and resolve misunderstandings.
Bayramov echoed these sentiments, describing the relations between Baku and Moscow as characterized by 'allied interaction' and close ties forming the foundation for their interstate relations. He mentioned that both sides are focused on implementing existing high-level agreements and exploring new cooperative areas. The discussions also covered trade and economic cooperation, which both ministers regarded positively despite global economic challenges.
Bayramov acknowledged past difficulties in bilateral relations but expressed satisfaction that Russia and Azerbaijan have successfully navigated these challenges and fully normalized their ties.