By Don Durfee and Parisa Hafezi
Iranian President Masoud Pezeshkian has accused Israel of trying to escalate the conflict between Israel and Tehran-backed Hezbollah in Lebanon, with the goal of sparking a full-blown war in the Middle East. Speaking at the United Nations General Assembly in New York, Pezeshkian warned of the "irreversible" consequences of such a conflict.
Despite Iran's desire for peace, Pezeshkian pointed the finger at Israel for seeking to create instability in the region. He criticized the international community for remaining silent in the face of what he called "Israel's genocide" in Gaza.
Israel's recent air strikes against Hezbollah have intensified tensions in the region, leading to the displacement of tens of thousands of people on both sides of the border. Pezeshkian reiterated Iran's support for groups defending their rights, but did not specify whether Iran would directly enter the conflict.
Efforts to reach a ceasefire in Gaza have stalled, further complicating the situation. Iran's regional policy is guided by the elite Revolutionary Guards, who answer to Supreme Leader Ayatollah Ali Khamenei.
Despite the assassination of Hamas leader Ismail Haniyeh on Iranian soil, Pezeshkian stated that Iran would respond at the appropriate time and place. The killing, blamed on Israel by Tehran and Hamas, has raised fears of direct conflict between the two arch-foes.
Iran has been engaged in dialogue with Western countries and the United States to plan a response to Haniyeh's assassination. Pezeshkian expressed disappointment at the lack of progress in reaching a ceasefire agreement with Israel-backed Hamas.
Overall, the escalating tensions in the Middle East pose a significant risk to regional stability and could have far-reaching consequences for global security and financial markets. Investors should closely monitor developments in the region and be prepared for potential market volatility.