Putin Discusses Postwar Security With Rezaei as Brent Rises 3.9%
Key Facts
Russian President Vladimir Putin met Mohsen Rezaei, head of Iran’s Supreme National Security Council, in Moscow on Thursday, November 5, for a meeting that addressed regional issues and postwar security arrangements between Iran and the United States. Rezaei said after the meeting that "important regional issues were discussed with Mr. Putin, and important talks were held on the postwar phase and regional security arrangements." Images released by the Kremlin showed foreign policy adviser Yuri Ushakov and Russian military intelligence chief Igor Kostyukov alongside Putin. The Kremlin provided no details of the meeting, according to the Associated Press. Iranian media reported that Rezaei delivered a message from Supreme Leader Mojtaba Khamenei to Putin, without disclosing its contents.
Rezaei said the discussion included building a gas pipeline from Russia to Iran to address Iran’s gas shortage and enable Russian gas sales to neighboring countries. The proposal puts energy among the areas of cooperation discussed by the two sides, alongside regional security and the postwar phase. The Kremlin announced no details of the meeting or practical outcomes on the proposal. In a broader diplomatic context, Russia, Iran and other countries agreed on Monday to continue talks on expanding cooperation, particularly on regional peace and security. The announcement gave no date or location for a subsequent meeting.
The meeting came as Iranian Foreign Minister Abbas Araghchi held phone calls on Thursday with Turkey and several Gulf leaders, including those of Saudi Arabia, Qatar, Oman and Kuwait, according to the relevant foreign ministries as reported by the Associated Press. His calls with Gulf officials addressed maritime security in the Strait of Hormuz and de-escalation. Qatar’s Foreign Ministry said the emir of Qatar underscored support for freedom of maritime navigation. Oman’s Foreign Ministry also said the safety of passage through the strait was a key topic in Araghchi’s call with its foreign minister. The security of this passageway matters to energy markets: the U.S. Energy Information Administration said flows through Hormuz in 2024 and the first quarter of 2025 exceeded a quarter of global seaborne oil trade and were equivalent to about one-fifth of global consumption of oil and petroleum products.
In oil markets, Brent crude rose 3.9% on November 5 to $98.29 a barrel, recovering part of a decline of nearly 9% the previous day, according to the Associated Press. In the United States, commercial crude inventories, excluding the Strategic Petroleum Reserve, fell by 0.9 million barrels to 409.8 million barrels in the week ended October 30, 4% below the five-year average, according to the Energy Information Administration. U.S. refineries processed 16.7 million barrels a day in the same week, up 199,000 barrels a day from the previous week, with operations at 94.5% of capacity. Total petroleum products supplied to the U.S. market averaged 21.2 million barrels a day over the four weeks ended with the report, up 4.2% year over year. These figures remain separate indicators of oil-market conditions; the source did not link the price move or inventory data to the Moscow meeting.
Russia’s Foreign Ministry maintained its recommendation that its citizens avoid travel to Iran because of the risk of a new escalation around the country. The ministry said, "Our recommendations to Russian citizens remain unchanged, in light of the remaining risks of a new escalation around Iran." The warning reflects continued Russian caution over the security situation, alongside the Putin-Rezaei meeting and Araghchi’s regional calls. The next weekly Energy Information Administration report is scheduled for Thursday, November 12, at 12:00 p.m. and 2:00 p.m. Eastern time. The agency said the release was delayed because of the federal government shutdown on November 11.