With the Strait of Hormuz closed after the Iran war and the global energy crisis intensifying, France has moved to form a multinational coalition with 35 countries, including Korea, to reopen shipping lanes through the strait. Timed to when the intensity of all-out war eases, the plan is to conduct purely defensive escort operations to secure the world's largest oil shipping route.
On the 27th (local time), the Ministry of National Defense of France said it held a video conference on the 26th with the Joint Chiefs of Staff (JCS) from 35 countries to discuss ways to restore freedom of navigation in the Strait of Hormuz after the end of the Iran war. The Ministry of National Defense of France emphasized that the mission is "purely defensive for escorting merchant ships," and said, "We will launch the strait reopening operation when the intensity of hostile acts has sufficiently decreased."
Reuters reported that while U.S. allies have declared they will not join the ongoing U.S.-Israel military operation against Iran, they are uniting independently to normalize postwar maritime logistics. Korea also attended the meeting, shared the view that ensuring safe navigation is essential, and agreed to continue seeking joint response measures.
The reason major countries around the world are fixated on reopening the Strait of Hormuz in the wake of the Middle East crisis is that it is a vital artery that sustains the global economy. Only 34 kilometers wide, the Strait of Hormuz is a chokepoint through which about 20 million barrels of crude pass per day. It accounts for 20% of global oil consumption and 30% of liquefied natural gas trade.
John Spencer, war studies chair at the Madison Policy Forum, argued in an op-ed in the Washington Post that "even a short-term closure of the Strait of Hormuz could push oil above $100 per barrel and cause economic losses worth hundreds of billions of dollars," stressing the need for fundamental measures such as building alternative bypasses. In fact, as Iran has seized control at sea, global oil prices have topped $100 per barrel, heightening market concerns.
Meanwhile, U.S. President Donald Trump has ratcheted up maximum pressure on Iran while pursuing negotiations. Trump initially issued a 48-hour ultimatum urging Iran to open the Strait of Hormuz and warning of strikes on energy facilities, but on this day extended the deadline by 10 days to the 6th of next month.
On his social media, Trump said, "At the request of the Iranian government, we are extending the grace period for strikes on energy facilities by 10 days, until 8 p.m. on Apr. 6," adding, "Talks are ongoing and, contrary to false reporting by fake news outlets, are going very well." He noted that Iran, as a gesture of goodwill in the talks, allowed the passage of 10 tankers, including a Pakistan-flagged vessel, signaling optimism for a resolution.
Some voiced concern about the current situation that has triggered an energy crisis and urged a swift truce. Leon Panetta, a former defense secretary who served as director of the Central Intelligence Agency, told the Guardian, pointing at President Trump, "One of the greatest vulnerabilities in a war with Iran is the Strait of Hormuz, and everyone knows it can trigger a devastating oil shock that sends fuel prices soaring." He said, "If we fail to secure a truce, we will have gained nothing," urging both maritime defense using military power and a diplomatic resolution.