On March 16, the foreign ministers of European Union countries will hold discussions on the actions needed to maintain the open status of the Strait of Hormuz. This was stated by the head of European diplomacy, Josep Borrell, before the meeting began.
This is reported by Kyiv24
Impact of Closing the Strait of Hormuz on Energy and Food Security
According to Borrell, blocking the Strait of Hormuz creates additional advantages for the Russian Federation, as it contributes to funding the war against Ukraine. He emphasized that EU countries need to take more active measures to prevent such a development.
“The closure of the Strait of Hormuz is indeed dangerous for oil supplies and energy supply to Asia. 85% of the oil and gas that pass through the strait go to Asian countries, but this is also problematic for fertilizers. If there is a shortage of fertilizers this year, there will also be a shortage of food next year.”
Borrell also reported that he is in constant contact with UN Secretary-General António Guterres. The possibility of applying a model similar to the “Black Sea Initiative” for the Strait of Hormuz is being discussed, which would ensure not only the export of oil but also food, critically important for several countries, including those in Africa.
International Community’s Response and US Actions
The European diplomacy is also concerned about the security of the Strait of Hormuz in light of recent statements by the US president. In particular, he emphasized that NATO faces a “very bleak future” if allies do not support American efforts to protect this strategic maritime artery, through which approximately 20% of global oil supplies pass.
Borrell noted that the EU is actively consulting with the American side at various levels; however, the situation remains unstable. US President Donald Trump recently announced plans to deploy naval forces to escort commercial tankers through the Strait of Hormuz, although the timeline for these intentions has not been disclosed. Trump also mentioned that he discussed shipping security with representatives from seven countries, without revealing their names.
According to the Wall Street Journal and Axios, the United States is in the final stages of forming an international coalition to escort vessels in this region, but the exact timing for the start of operations has yet to be determined.
The Strait of Hormuz remains a key route for transporting oil and gas from the Middle East. Since the escalation of tensions in the region, tanker movements have significantly decreased. The near-total blockade of the strait has already led to a reduction in oil production by major producers in the Persian Gulf and a significant increase in energy prices. In particular, the price of Brent crude oil has exceeded $100 per barrel.