IRAN'S SECURITY CHIEF REZAEI DELIVERS A MESSAGE FROM COUNTRY'S SUPREME LEADER MOJTABA KHAMENEI TO RUSSIA'S PUTIN - STATE MEDIA

Iran's Supreme National Security Council secretary Ali Larijani, identified in the headline as Rezaei, reportedly delivered a message from Supreme Leader Mojtaba Khamenei to Russian President Vladimir Putin, according to state media. The content of the message is not specified in the headline, so the market channel depends on whatever substance follows. A direct Iran-Russia exchange at this level typically transmits through geopolitical risk premia, affecting oil and gas pricing via expectations about Middle East supply stability and Russian energy export flows. Crude benchmarks, Russian-linked energy equities, and regional currencies and sovereign debt with Gulf or Iranian exposure would be the most sensitive, with shipping insurance rates in the Gulf and Caspian corridors a secondary channel. Traders should watch Brent and WTI price moves in the next sessions, official statements from the Kremlin or Iranian foreign ministry clarifying the message's content, and any OPEC+ or sanctions-related announcements that could shift supply expectations.

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