United News of Bangladesh

France and Italy have begun discussions with Tehran in an effort to ensure the safe passage of their vessels through the Strait of Hormuz, the Financial Times reported. Citing three sources familiar with the matter, the report said the two European countries are trying to negotiate an arrangement with Iran that would guarantee safe navigation for their ships through the crucial maritime route. The talks remain at an early and tentative stage, the report added. The effort comes as European states seek to revive oil and gas exports from the Middle East amid heightened regional tensions. Al Jazeera said it could not independently verify the report. Separately, Reuters reported that France is also working to assemble a broader international coalition aimed at securing the Strait of Hormuz once the security situation improves. According to two French officials cited by Reuters, Paris has been consulting European, Asian and Gulf Arab countries on a plan that could involve deploying warships to escort oil tankers through the narrow waterway. The strait is a vital corridor for global energy supplies. Data from the Germany-based CESifo Research Network shows that in 2024 about 6.2 percent of crude oil and 8.7 percent of liquefied natural gas imported from non-EU countries passed through the passage.

Several leading oil producers and trading firms have temporarily halted fuel shipments through the Strait of Hormuz following escalating attacks in the region, according to media reports. A senior executive at a major trading company told Reuters that their vessels would remain stationary for the next few days as a precautionary measure, reports Al Jazeera. Roughly 20 million barrels of crude oil and other petroleum products pass daily through the narrow but strategically vital corridor between the Arabian Peninsula and Iran. Any prolonged disruption in shipments through the waterway could trigger significant turbulence in global energy markets, analysts warn. US-Israel attack on Iran: How world reacts