Canberra: Australia will participate in a virtual meeting late tonight alongside 34 other nations to discuss plans to reopen and secure the Strait of Hormuz, as an oil shock continues to rock global markets following the Iran conflict.
The United States will not take part in the talks. Leaders of the participating countries have been clear they are unwilling to take any action before a ceasefire in Iran is in place.
The meeting will be led by the United Kingdom, which has coordinated efforts to bring together nations willing to contribute to reopening the critical waterway.
Australia’s Contribution
Defence Minister Richard Marles confirmed Australia is willing to discuss what it can contribute to the multilateral effort. He noted that an Australian surveillance aircraft is already operating in the region, making an active contribution to security efforts.
Why It Matters
The Strait of Hormuz is one of the world’s most critical oil shipping routes. Its closure has triggered a significant oil price shock affecting global energy markets, with flow-on effects for fuel prices and economic stability worldwide.