European nations, Japan to join ‘appropriate efforts’ to open Hormuz Strait
Al Jazeera
Countries are looking for ways to contain record-high prices as the oil and gas crisis deepens.
Several European nations and Japan have issued a joint statement saying they would take steps to stabilise energy markets, a day after several strikes on energy facilities in the Gulf region sent oil and gas prices soaring amid the United States-Israel war on Iran.
The leaders of Britain, France, Germany, Italy, the Netherlands and Japan issued a joint statement on Thursday expressing their “readiness to contribute to appropriate efforts to ensure safe passage through the [Hormuz] Strait.”
They did not specify what those efforts may entail but urged for “an immediate comprehensive moratorium on attacks on civilian infrastructure, including oil and gas installations”.
The International Energy Agency (IEA) last week authorised a coordinated release of its members’ strategic petroleum reserves, the largest in its history, in an attempt to counter rising global energy prices. “We will take other steps to stabilise energy markets, including working with certain producing nations to increase output,” the statement said.
Markets have been hammered since the start of the war on February 28, with Tehran hitting sites across the Gulf and effectively closing the Strait of Hormuz, through which a fifth of global oil and gas flows.
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