Australia, world leaders warily welcome strait opening
World leaders cautiously welcomed the reopening of the Strait of Hormuz as the news caused global oil prices to fall more than 10 percent overnight.
Prime Minister Anthony Albanese will make statements to journalists shortly after attending the virtual summit hosted by France and England on Friday evening, with the participation of approximately 50 countries.
The purpose of the meeting was to build support for a fragile ceasefire in the region following the US-Israeli war against Iran and to reopen shipping routes in the strait under the banner of the Strait of Hormuz Freedom of Navigation Initiative.
Mr Albanese attended the meeting to emphasize the need to reduce tensions and bring about a rapid resolution to the conflict; It was something he said Australia had consistently demanded.
The Prime Minister also expressed how Asia is feeling the impact of the disruptions acutely, with the vast majority of oil previously passing through the strait bound for the region.
“Australia and our Indo-Pacific partners are experiencing first-hand the impact of unprecedented disruptions to energy supply chains and the impact on oil and fuel prices,” Mr Albanese said ahead of the meeting.
“Here in Australia, we are working around the clock to protect Australians from the worst blows.”
Mr Albanese has officially backed coordinated international diplomacy to help resolve the conflict, noting that the longer the war lasts, the higher the human cost and the more significant its impact on the global economy.
He and Energy Minister Chris Bowen will speak to reporters in Sydney on Saturday morning, while Deputy Prime Minister Richard Marles will meet his Japanese counterpart in Melbourne.
Iranian Foreign Minister Abbas Araqchi issued a message to X during the meeting declaring that the Strait of Hormuz was “fully open.”
French President Emmanuel Macron and British Prime Minister Keir Starmer welcomed Iran’s statement, but in question reopening must become permanent.
Mr Macron and Mr Starmer said a meeting of military planners would be held in London next week as part of an initiative to establish an international mission to restore maritime security.
However, US President Donald Trump told NATO allies to “stay away”.
“Now that the situation in the Strait of Hormuz is over, I got a call from NATO asking if we needed help,” Trump said on Truth Social.
“I TOLD THEM TO STAY AWAY IF THEY DON’T WANT TO FILL THEIR SHIPS WITH OIL.”
Asked whether the Australians would be prepared to provide defense assets, Foreign Minister Penny Wong said a diplomatic approach was preferred.
Senator Wong commented on his visit to Singapore with Trade Minister Don Farrell on Friday.
The duo met with Singapore’s Minister of Foreign Affairs, Dr. signed a supply agreement with Vivian Balakrishnan and Energy Minister Tan See Leeng to strengthen energy security in the region.
“The protocol reflects the priority we give to each other in trading essential materials, including petroleum oils such as diesel, and liquefied natural gas,” the ministers said in a joint statement published on Friday evening.
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