China supports the revival of negotiations on an Iran nuclear accord, Foreign minister Wang Yi told his Iranian counterpart in a phone call on Friday.

Beijing understands Iran’s position on the nuclear issue of defending national interests and would like to work with all parties in promoting regional peace and stability by facilitating the talks, Wang said, according to a statement posted on the Ministry of Foreign Affairs’ website.

Energy markets, which are facing tightening global supply, closely watch developments in talks aimed at reviving the 2015 agreement, which limits oil-rich Iran’s atomic work in exchange for sanctions relief. Nuclear discussions have been frozen since the election of conservative cleric Ebrahim Raisi to the Iranian presidency in June but efforts resumed this week to find a way back to the negotiating table.