Allies unite to ensure safe navigation in Strait of Hormuz, energy market stability

On March 19, leading European countries, Japan, and Canada issued a joint statement declaring their readiness to support efforts to secure safe passage through the Strait of Hormuz and take measures to stabilise energy markets, Reuters reports.

In the statement, the countries condemned Iran’s recent attacks on unarmed commercial vessels in the Gulf and assaults on civilian infrastructure, including oil and gas facilities. They described the de facto closure of the Strait by Iranian forces as a serious threat to international peace and security.

“We express our deep concern about the escalating conflict. We call on Iran to ​cease immediately its threats, laying of mines, drone and missile attacks and other attempts ​to block the Strait to commercial shipping, and to comply with UN Security Council Resolution 2817,” the statement read.

Countries emphasised that freedom of navigation is a core principle under international law, including the United Nations Convention on the Law of the Sea, and warned that the consequences of Iran’s actions would affect people worldwide, particularly the most vulnerable.

The nations expressed readiness to contribute to measures ensuring safe passage through the Strait and welcomed ongoing international planning efforts. They also supported the International Energy Agency’s decision to release strategic petroleum reserves and pledged to work with energy-producing countries to stabilise markets.

Additional assistance will be provided to the most affected countries through the United Nations and international financial institutions. The statement concluded by calling on all states to respect international law and uphold principles of global prosperity and security.

By Jeyhun Aghazada