The Strait of Hormuz continues to attract all attention in the Middle East conflict. Iran announced its reopening and Europe has begun to create a multinational military mission to guarantee free navigation. Meanwhile, Donald Trump has warned his, ironically, NATO allies to stay “away” from the issue.
Europe takes the initiative in Paris
France and the United Kingdom convened a conference this Friday at the Elysée with fifty countries and international organizations to promote a “strictly peaceful and defensive” multinational mission in the strait. British Prime Minister Keir Starmer revealed that there are already a dozen countries willing to provide military resources, including France, Germany and Italy.
Attendees included representatives from Australia, Canada, South Korea, Singapore, New Zealand, Ukraine and several European countries. China, India, Saudi Arabia, Japan and Türkiye, among others, participated at the ministerial level. Spain was also represented. The president of the European Commission, Ursula von der Leyen, and the secretary general of the International Maritime Organization completed the list.
Trump distances himself from NATO
Precisely when European leaders appeared before the press in Paris, Trump published a message on his Truth Social network with a very different tone. “Now that the Strait of Hormuz situation is over, I received a call from NATO asking if we would need help. I told them to stay away, unless they just want to load their ships with oil,” wrote the US president, adding that the allies “were useless when needed, a paper tiger.”
Once again at the right time, Trump presses the exact key to increase the gap between Washington and its European partners among those who have been left without allies.
US naval blockade still in place
And his words this time are certainly backed by facts. While Iran announced that the strait remained “totally open” until the end of the ceasefire with the United States, Trump made it clear that the US naval blockade on ships entering or leaving Iranian ports will remain in force until there is a final agreement.
The Republican president assured that the process “should go very quickly” because “most of the points have already been negotiated,” and stated that Iran has committed to not closing the strait again, although this commitment could not be independently verified.
Macron rejected any conditioning of navigation: “We demand the reestablishment of the conditions of free passage that were in force before the war and full respect for the law of the sea. We oppose any restriction, any regime of conventions that in practice amounts to an attempt to privatize the strait.”
Shipping companies, cautious
The shipping sector received the news with very measured optimism. Maersk, the world’s second largest shipping company, welcomed the announcement, but warned that “the ceasefire may create transit opportunities, but does not yet offer full maritime certainty.” Hapag-Lloyd, the German shipping group, said it is working to allow its ships to cross the strait “as soon as possible,” but stressed that it needs greater clarity on the actual conditions.
The Bimco shipping association was even more cautious and recommended its members avoid the area for the time being, citing uncertainty over the situation of possible mines in the area.
The markets, relieved
Despite the uncertainties, financial markets reacted with relief at the prospect that oil and gas could flow normally again. The barrel of Brent fell more than 10%, to $88.8, moving away from the peak of $119 recorded last month, although still well above the $72 prior to the conflict. The benchmark European gas contract fell by around 6.4%.
Stock markets also responded with increases: the German DAX and the French CAC gained nearly 2%, while the Dow Jones and the S&P 500 opened with increases of more than 1% in New York. In London, the FTSE 100 closed up 0.7%.
