Iran has been joined by Russia and China in deploying naval vessels for a joint live-fire exercise in the Strait of Hormuz, heightening regional tensions even as negotiators from Washington and Tehran met for diplomatic talks aimed at averting a military confrontation.

Feb 18 (Reuters) - Russian Foreign Minister Sergei Lavrov, in ⁠an ⁠interview made public on Wednesday, ⁠said that any new U.S. strike on Iran would have ​serious consequences and called for restraint to find a solution to enable Iran to pursue ‌a peaceful nuclear programme.

Oil prices gained over 1% on Wednesday after falling in ​the previous session as investors assessed developments ​in Russia-Ukraine and U.S.–Iran ​talks.

Feb 18 (Reuters) - British Prime Minister Keir Starmer spoke to U.S. President Donald Trump on Tuesday night about U.S.-mediated Russia-Ukraine peace talks in Geneva, as well as talks between the U.S.

Russian FM Sergei Lavrov warns that any new US strike on Iran would have "serious consequences," as Washington prepares for potential military action and continues talks.

Geopolitics will be the main theme of the day, with markets watching the high-stakes talks between the U.S. and Iran, as well as Ukraine and Russia.

Russia and Iran are preparing to team up for military exercises in mere hours as Donald Trump continues to mull military intervention in the region. The two nations are set to conduct joint navy drills tomorrow, February 19, in the Sea of Oman and northern Indian Ocean, Iranian news agency Fars reports.

Iran, Russia, and China are preparing for major joint naval drills in the Sea of Oman just as U.S. military buildup intensifies near the Strait of Hormuz. Experts say the timing is a direct warning to Washington and Israel,