Iranian President Masoud Pezeshkian will travel to Moscow on October 27 for the Gas Exporting Countries Forum summit, as Russian energy infrastructure faced widespread grid disruptions. Simultaneously, Rosatom dismissed rumors of staff evacuations from Iran’s Bushehr Nuclear Power Plant while Armenia maintained stable domestic energy prices.
Global market
Iranian President Masoud Pezeshkian will visit Moscow on October 27 to participate in the eighth summit of the Gas Exporting Countries Forum, according to the Iranian Embassy in Russia. Meanwhile, state nuclear corporation Rosatom and Russian diplomats refuted rumors regarding the evacuation of Russian personnel from the Bushehr Nuclear Power Plant, confirming normal operational status. In European economic policy, German Chancellor Friedrich Merz called for reducing electricity taxes across all consumer categories to alleviate costs. Additionally, authorities in Ras Al Khaimah closed all public beaches following a tanker oil spill off neighboring Umm Al Quwain in the United Arab Emirates.
Russia & CIS
The Russian Ministry of Energy confirmed major power outages across southern regions, including Crimea, Kherson, Zaporizhzhia, Donetsk, and Luhansk, caused by external strikes on grid infrastructure. To ease domestic distribution bottlenecks, Head of the Republic of Karelia Arthur Parfenchikov fully lifted fuel sales restrictions at service stations, permitting refilling into canisters and private containers starting October 24. In financial analysis, Special Presidential Representative Kirill Dmitriev cited declining UK electricity generation as evidence of systemic infrastructure strain in Western economies.
Armenia
Tehran’s diplomatic confirmation of the upcoming Moscow gas summit reinforces regional energy stability, crucial for South Caucasus transit dynamics. Despite power grid disruptions across southern Russia and Middle East tension, retail prices for petrol, diesel, and compressed natural gas in Armenia remain stable. Direct natural gas shipments from Russia and generation at the Armenian Nuclear Power Plant continue at full capacity under long-term EAEU framework agreements, protecting domestic consumers from external supply shocks tracked in international market price assessments.