UK convenes meeting to reopen Strait of Hormuz
The UK has hosted a virtual meeting of over 40 countries to discuss ways to reopen the Strait of Hormuz.
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Chaired by UK Foreign Secretary Yvette Cooper, the meeting focused on efforts to allow unhindered transit through the Strait of Hormuz – a critical energy artery that has been largely shut since the start of the Middle East conflict.
The meeting also included representatives from the International Maritime Organization (IMO) and the European Union (EU). “Iran’s closure of the Strait of Hormuz is a direct threat to global prosperity,” UK’s Foreign, Commonwealth & Development Office said in a statement.
Participants agreed to step up diplomatic pressure on Iran and reject the imposition of tolls on vessels. They also discussed the possibility of joint economic and political measures, including sanctions on Iran, if access to the waterway is not restored.
Disruption to shipping through the region “has immediate and far-reaching consequences for global supplies, prices and economic stability,” the statement added.
The meeting focused on working with the IMO to secure the release of ships and crews stranded in the Strait and resume normal shipping activity.
The meeting follows comments by US President Donald Trump urging nations to take responsibility for reopening the Strait, if they want access to oil and gas flows. However, no US representatives attended the meeting.
Transit through the strait slows dramatically
Prior to the US-Israeli military operations against Iran, the Strait of Hormuz remained fully open to commercial shipping, with around one-fifth of global oil and LNG volumes routinely transiting the vital waterway.
Strikes on commercial vessels by Iran’s military have brought traffic through the Strait to a near standstill, choking a vital corridor for oil flows and driving prices sharply higher.
There have been at least 23 direct attacks on merchant vessels, and 11 crew members have been killed in the Gulf since the war broke out on 28 February, the Associated Press (AP) reported.
Asian buyers, including India, Pakistan, Malaysia and China, are in direct talks with Iran to secure tanker passage through the Strait. However, such arrangements are unlikely to hold over the longer term, according to market analysts.
On Wednesday, France and Japan agreed to jointly push for a swift reopening of the Strait to oil and gas tankers, Reuters reported. Meanwhile, the UAE has called on the UN to authorise measures, including force, to ensure safe navigation around the Strait of Hormuz.
By Aparupa Mazumder
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