UK Offers To Host Global Summit To Reopen Strait Of Hormuz As Oil Trade Faces Major Disruption
The United Kingdom has offered to host an international summit to discuss how to reopen the Strait of Hormuz, where shipping has been disrupted due to the ongoing conflict involving Iran, the United States and Israel.
The strait is one of the world’s busiest oil routes, and around 20% of global oil supplies usually pass through it, making the situation important for global trade and energy markets.
Defence officials from several countries have been in talks on how to restore safe passage for ships.
The UK has already sent military planners to work with US Central Command to examine options for allowing tankers to move through the area.
The route is currently seen as unsafe due to Iran’s threats of retaliatory attacks, including mines, drones and missile strikes.
More than 30 countries, including the United Arab Emirates, the UK, France, Germany, Canada, Australia, Italy and the Netherlands, have signed a joint statement agreeing to work together on efforts to protect the waterway.
The statement condemned recent attacks on unarmed commercial vessels and civilian energy infrastructure.
The countries also called on Iran to stop threats and actions that block shipping and to follow international law, including rules under the United Nations Convention on the Law of the Sea.
The group said it is ready to support steps to ensure safe passage through the strait and welcomed planning efforts already underway.
It also supported the decision by the International Energy Agency to release strategic oil reserves to help stabilise markets.
Countries are also considering increasing oil production and providing support to nations most affected by the disruption.
A UK official said another meeting between military leaders of the participating countries is expected soon, and a larger security conference may follow.
The summit could be held in London or Portsmouth, which is home to the Royal Navy. The aim is to build a coalition that can act when conditions improve and provide reassurance to the merchant shipping industry.
British Prime Minister Keir Starmer said there may not be a quick end to the conflict, even after the United States delayed planned strikes on Iranian targets.
NATO chief Mark Rutte is also involved in discussions on how to move forward, although some allies remain cautious about deeper military involvement.
Western countries have discussed options such as deploying autonomous mine-hunting systems supported by a mothership in the Gulf, but officials said such steps would only be possible once the situation becomes less tense.
Earlier requests by Donald Trump for allied naval deployments were not accepted, as countries were concerned about the risk of escalation.
The impact of the disruption is already visible. Oil prices have increased, gas prices in some regions have nearly doubled, and shipping and insurance costs have gone up.
Governments are also facing higher borrowing costs, which may add pressure on inflation. With the strait handling about one-fifth of global oil trade, any disruption quickly affects markets worldwide.
Leaders said the effects of the situation will be felt globally, especially in countries that depend heavily on energy imports. They added that keeping the route open is important for international trade and economic stability, and called for de-escalation to avoid further damage.
References: The Guardian, UK Gov
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