France unveils strategy to end Hormuz Strait blockade
Photo: French President Emmanuel Macron (Getty Images)
France is initiating negotiations at the UN level to restore shipping through the Strait of Hormuz, French President Emmanuel Macron announces following the EU summit in Brussels.
Background
Macron announces that France has begun consultations with key partners regarding the possibility of establishing a UN mechanism to ensure the security of the strait.
He says that they had launched an exploratory process and that in the coming days they would see if it had a chance of success
The French leader has already held talks with two key players, Narendra Modi, the Prime Minister of India, on Thursday morning and António Guterres, UN Secretary-General, joined the European Council meeting over lunch.
He then briefed the rest of the EU leaders.
Macron says that he thinks it is something that could help, but adds that he is cautious because it does not depend solely on them, without revealing details of the plan.
Why it matters
Iran has effectively blocked the Strait of Hormuz, through which about 20% of the world’s oil supplies pass. As a result, global energy prices are rising.
Leaders of the world’s major countries have issued a demand to Iran. They called for the strait to be unblocked, as this poses a threat to global peace and security.
Meanwhile, at some gas stations, fuel prices jumped by 4 hryvnias per liter on March 20. The largest chains raised the prices of gasoline, diesel, and autogas.
