European states, Japan 'ready to help' on Hormuz, energy markets

19th Mar 2026 13:49

(Sharecast News) - Five European nations and Japan on Thursday said they were ready to join "appropriate efforts" to ensure safe passage for shipping through the Strait of Hormuz which is currently closed to most vessels due to the Iran war.

Britain, France, Germany, Italy, the Netherlands joined Japan in condemning attacks by Iran on neighbouring Gulf states. They added that they would work with certain energy producing nations to increase output and stabilise markets.

"We express our readiness to contribute to appropriate efforts to ensure safe passage through the Strait," the group said in statement said. "We welcome the commitment of nations who are engaging in preparatory planning."

The statement comes as tankers remain stranded outside the vital waterway, which accounts for 20% of global oil shipments. Iran on Thursday threatened to attack energy infrastructure across the region in retaliation for Israeli strikes on the facilities at the enormous South Pars field, the largest gas reserves in the world.

Qatar's Ras Laffan liquified natural gas terminal suffered "extensive further damage" on Thursday morning, officials said.

Kuwait's Mina Al-Ahmandi refinery was also hit by drones, while US President Donald Trump - who is claiming no knowledge of Israel's strikes - warned that if Iran hit Qatar's energy facilities again America would "massively blow up the entirety of the South Pars Gas Field"."

Oil and gas prices fell back from morning highs, with benchmark Brent crude up 3% to $110 and US West Texas Intermediate 0.42% to $96.72 at the time of writing. Month-ahead gas on the Dutch soared 17% to €64.17 per kilowatt hour.

"We condemn in the strongest terms recent attacks by Iran on unarmed commercial vessels in the Gulf, attacks on civilian infrastructure including oil and gas installations, and the de facto closure of the Strait of Hormuz by Iranian forces," the group added in their statement.

"We express our deep concern about the escalating conflict. We call on Iran to cease immediately its threats, laying of mines, drone and missile attacks and other attempts to block the Strait to commercial shipping,"

Reporting by Frank Prenesti for Sharecast.com