The Kremlin has said it hopes negotiations involving Iran will continue in order to avoid negative consequences for the region and the global economy, adding that while Russia is not acting as a mediator, it is ready to assist if needed, Reuters reports.

“We can see that the situation in the Gulf remains fragile and unpredictable. We hope that the negotiation process will continue and that we will be able to avoid a further escalation towards a military scenario,” Kremlin spokesman Dmitry Peskov told reporters.

Peskov said Russia was not acting as a mediator in talks on Iran but stood ready to help if requested.

“Russia is not currently a mediator in the negotiation process, but we are ready to provide any assistance to facilitate a peaceful resolution and help reach an agreement,” Peskov said.