The European Union is urgently consulting with leaders across the Middle East amid growing fears that the ongoing conflict involving Iran could destabilize the wider region and global energy markets.

At midday today, diplomats from the EU are scheduled to hold a high-level video conference with Middle Eastern leaders to assess the rapidly evolving situation and its potential regional and international consequences.

Speaking earlier at a European conference, Ursula von der Leyen, President of the European Commission, warned that the effects of the conflict are already spreading beyond Iran’s borders.

“We are already feeling the spillover from the war involving Iran,” von der Leyen said, highlighting concerns over security, economic stability, and energy supplies.

In a major political development, Iran’s top clerical establishment has reportedly designated Mojtaba Khamenei as the country’s next supreme leader. The son of Ali Khamenei is expected to assume sweeping authority over both the political leadership and the country’s armed forces, a move that could significantly reshape Iran’s domestic and foreign policy.

Meanwhile, global energy markets have reacted sharply to the escalating tensions. Oil prices surged to their highest levels in nearly four years as several oil-producing countries reduced output amid fears that the conflict could disrupt supply routes and regional production.