Europe holds secret talks with Iran over Hormuz Strait blockade
Photo: Blockade of the Strait of Hormuz (Getty Images)
European countries, including France and Italy, have begun private negotiations with Tehran to ensure the safe passage of ships through the Strait of Hormuz and restore energy supplies, the Financial Times reports.
Diplomatic efforts to resolve the situation
European capitals are attempting to find a way to resume oil and gas exports while avoiding direct involvement in the military conflict.
Sources say Paris and Rome are currently exploring the possibility of obtaining security guarantees from Iran for civilian tankers.
Italian Defense Minister Guido Crosetto confirmed the effort to develop a unified EU position on the issue. He emphasized that Europe should speak with one voice and formally request safe passage for ships from non-warring countries through the Strait of Hormuz.
Economic pressure and risks
The blockade of the strait, through which about 20% of the world’s oil flows, has already pushed prices to around $100 per barrel. This is placing critical pressure on EU countries' national budgets.
Despite the presence of European naval vessels in the region, they are not yet ready to escort ships because of the high risk of attacks.
As one official explained, no European navy is prepared to escort ships through the Strait of Hormuz if there is a risk of attack.
Why is the Strait of Hormuz important
The Strait of Hormuz is the world’s main energy artery, connecting the Persian Gulf with the open ocean. Around 20% of global oil consumption and a significant share of liquefied natural gas pass through this narrow passage.
RBC-Ukraine previously reported on what the Strait of Hormuz is and why its blockade could paralyze the global economy.
Earlier, the White House said that US military convoys in the Strait of Hormuz remain an option to protect commercial shipping. However, Washington seeks to avoid a direct clash with Iranian forces.
At the same time, analysts at JPMorgan warned about the catastrophic consequences of prolonged isolation of the region. According to their forecasts, a blockade of the Strait of Hormuz could drive oil prices to record levels, potentially triggering a global recession.
