Japan, Europeans signal ‘readiness to contribute’ to efforts to keep Strait of Hormuz open

The leaders of Japan and several European nations condemned recent Iranian attacks in the Gulf states, which have effectively closed the Strait of Hormuz, a major oil trading channel. 

“We express our readiness to contribute to appropriate efforts to ensure safe passage through the Strait,” the leaders wrote in a Thursday letter. “We welcome the commitment of nations who are engaging in preparatory planning.”

Japan, the United Kingdom, France, Germany, Italy and the Netherlands all signed on to the joint statement, conveying “deep concern” about the Iranian strikes’ impact on the global energy supply. 

The price of Brent crude oil spiked to $119 per barrel on Thursday before dropping back down after the Iranian military hit a gas facility in the United Arab Emirates. The country also targeted energy fields in Qatar and Saudi Arabia. 

The International Energy Agency (IAE) said that its members will release 400 million barrels of oil from their reserves to offset rising global energy prices. A total of 32 countries, including the U.S., are IAE members. President Trump authorized the release of 172 million barrels from the U.S.’s Strategic Petroleum Reserve last week.

The six co-signers of Thursday’s letter commended the IAE’s decision and committed to taking additional steps toward stabilizing the global energy markets. 

“We will also work to provide support for the most affected nations, including through the United Nations and the IFIs,” they wrote.

“Maritime security and freedom of navigation benefit all countries,” the leaders continued. “We call on all states to respect international law and uphold the fundamental principles of international prosperity and security.”

Japanese Prime Minister Sanae Takaichi, one of the letter’s co-signers, is in Washington, D.C., for a meeting with Trump today. The two leaders are expected to discuss shared trade interests and the ongoing military operations in Iran.

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