Five European countries—including France, the UK, and Germany—along with Japan said they were ready to “contribute” to “appropriate efforts” to ensure safe passage through the Strait of Hormuz and would take additional measures to stabilize energy markets.
In a joint statement, the UK, France, Germany, Italy, the Netherlands and Japan called on Iran to “cease immediately” its attacks on vessels, civilian infrastructure and “other attempts to bloc the Strait to commercial shipping,” claiming that “freedom of navigation is a fundamental principle of international law.”
“We express our readiness to contribute to appropriate efforts to ensure safe passage through the Strait” and “will take other steps to stabilize the markets, including working with certain producing nations to increase output”.
Though the statement is not specific about what type of contributions these countries would make, it comes as Europe is increasingly under pressure to help protect the Strait of Hormuz -which carries around a fifth of the world’s oil- and solve the looming energy crisis.
Iran blocked the Strait at the start of the war. Since then, the war has escalated, with major oil and gas facilities being attacked by both sides. Iranian attacks on the Ras Laffan gas field, Qatar’s largest energy site, have sent prices soaring, with crude oil costs briefly reaching the highs seen at the start of the conflict.
Still, EU countries were reluctant to intervene, as they didn’t wish to be dragged into the war.
The statement also said signatories would take measures to stabilise energy markets and engage with key producers to boost output.
“We welcome the International Energy Agency decision to authorise a coordinated release of strategic petroleum reserves,” it said.
“We will take other steps to stabilise energy markets, including working with certain producing nations to increase output.”
After energy prices began rising, the International Energy Agency unanimously agreed on March 11 to make 400 million barrels of oil available from emergency reserves.
EU leaders are meeting in Brussels on Thursday to address, among other issues, energy prices and the war in Iran.
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