European Union weighs action to keep Strait of Hormuz open

Brussels: The European Union said on Monday it will consider how to help keep the Strait of Hormuz open as energy and commodity prices rise in the third week of war between Iran, Israel and the United States.

“It is in our interest to keep the Strait of Hormuz open, and that’s why we are also discussing what we can do in this regard from the European side,” said Kaja Kallas, the EU’s foreign policy chief, ahead of a meeting of the 27-nation bloc’s foreign ministers in Brussels on Monday.

US President Donald Trump has asked allies - including France, China, Japan, South Korea and Britain - to help secure the strait for global shipping.

Kallas said the EU could expand its Aspides naval mission to protect shipping in the Red Sea up into the Persian Gulf, or it could form a “coalition of the willing” with member nations contributing military capacity on an ad hoc basis.

The war in Iran, sparked on Feb. 28, airstrikes by Israel and the US, has driven up energy prices worldwide, with Brent crude up more than 40 per cent.

But the conflict has also disrupted the wider global supply chain beyond oil, affecting everything from pharmaceuticals from India, semiconductors from Asia and oil-derived products like fertilisers that come from the Middle East.

Cargo ships are stuck in the Gulf or making a much longer detour around the southern tip of Africa.

Planes carrying air cargo out of the Middle East are grounded.

And the longer the war drags on, the more likely it is that there will be shortages and price increases on a wide range of goods.

France has said it is working with countries - President Emmanuel Macron mentioned partners in Europe, India and Asia - on a possible international mission to escort ships through the

strait, but has stressed it must be when “the circumstances permit,” when fighting has subsided.