The United Kingdom is set to host 35 countries on Thursday in an effort to exert diplomatic pressure to reopen the Strait of Hormuz , an blockade triggered by the US-Israeli war on Iran has skyrocketed global energy prices.
The meeting, to be chaired by UK Foreign Secretary Yvette Cooper, "will assess all possible diplomatic and political actions that can be taken to restore freedom of navigation, ensure the safety of stranded ships and seafarers, and resume the flow of vital goods", Prime Minister Keir Starmer said. The vital pathway , where around one-fifth of the world’s oil passes through, has been effectively closed by Iran in response to the joint US and Israeli assault on the country, ongoing since late February.
In retaliation for the US-Israeli strikes, Iran also set out to attack ships and vessels attempting to pass through, halting nearly all traffic in the waterway that connects the Arabian Gulf to the world’s oceans.
The Strait’s closure has sent oil prices soaring , as well as disrupted logistics, triggering concerns of a looming global energy crisis.
The Prime Minister's office announced that this will be the first time the countries have met to discuss a practical plan for reopening the Strait of Hormuz.
Thursday’s talks are considered a "first step" to address the crisis, which will be followed by "working-level meetings" to flesh out further details.
Starmer said that resuming shipping "will not be easy" and will require "a united front of military strength and diplomatic activity," along with a partnership with the maritime industry. He also stated that British military planners will meet later "to discuss how we can mobilise our capabilities and make the Strait safe and accessible once the fighting has stopped", but cautioned that clearing the area and securing shipping lanes will be a lengthy and complex process.
On Wednesday, Starmer stressed that the main challenge lies not only in insurance but also in ensuring the safety and security of shipping. The US will not attend the meeting, after President Donald Trump said it wasn't "up to" Washington to ensure the safety of the strait, and said countries should "go get their own oil".
He has also criticised the US’s traditional allies for not backing attacks there, and threatened to pull the US out of NATO over the lack of support he has received on such.
Western countries have so far expressed reluctance to stage any attacks in the Strait as the war rages.
The participating countries include France, Germany, Italy, and the Netherlands, Australia, Japan, Canada, South Korea, New Zealand, the UAE, and Nigeria.
Many of these countries signed a joint statement with the UK last month condemning the Iranian attacks on the Gulf and the Strait’s closure.
Despite this, Iran’s Revolutionary Guards insist that the Strait of Hormuz will remain closed to the country’s "enemies," as Trump said he would only consider a ceasefire if it was reopened.
The closure of the Strait of Hormuz has had a significant impact on energy markets, prompting several countries that rely heavily on oil exports to enforce measures such as limiting the sale of fuel and encouraging remote work.
Oil prices have jumped by at least seven percent on Thursday, with Brent crude oil costing $107.60 a barrel following Trump’s latest threats to attack Iran in a speech earlier that day.
The US and Israel continue to attack Iran on a near-daily basis, with Trump threatening to send the country "back to the Stone Ages" as he boasted of almost accomplishing the US's military "achievements" there.