Nearly 40 countries take part in UK meeting on Strait of Hormuz crisis

Around 40 countries on Thursday took part in talks with the UK in an effort to exert diplomatic pressure to reopen the Strait of Hormuz, amid a blockade triggered by the US-Israeli war on Iran that has skyrocketed global energy prices.

The meeting, chaired by UK Foreign Secretary Yvette Cooper, "focused on the diplomatic and international planning measures, including collective mobilisation of our full range of diplomatic and economic tools and pressures."

The US did not attend the meeting, after President Donald Trump said it wasn't "up to" Washington to ensure the safety of the strait, and said it was the responsibility of countries that rely on the waterway to ensure it was open.

The participating countries included France, Germany, Italy, and the Netherlands, Australia, Japan, Canada, South Korea, New Zealand, the UAE, and Nigeria.

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.

European countries initially refused Trump's demand to send their navies to the area because of fears about being dragged into the conflict.

But concerns about the impact of the rising cost of energy on the global economy have prompted them to try to form a coalition to see how they can defend their own interests.

European diplomats said putting the coalition together was at an early stage, with Britain and France leading.

Officials said the discussions on Thursday would focus on which countries were prepared to participate before military planners meet for talks next week.

France's Armed Forces spokesperson Guillaume Vernet told a news conference on Thursday that the process would be multi-phased and could not happen until hostilities had calmed or ended.

A key focus of the talks would be how to ensure shipowners could feel confident enough for vessels to resume travelling through the area and to bring down insurance premiums.

There would also eventually need to be coordination with Iran to ensure that there will be security guarantees for ships, Vernet said, something that is unlikely for now.

Talks had also started on what military assets could be provided, he said.

The UK Prime Minister's office announced on Wednesday that this will be the first time the countries have met to discuss a practical plan for reopening the Strait of Hormuz.

He said Thursday’s talks are 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. 

Amid this development, 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.