Macron, Trump Rush To Secure Maritime Trade As Iran Blocks Strait Of Hormuz: What Steps Have US And France Taken?

(MENAFN- Live Mint) French President Emmanuel Macron on Tuesday directed France's nuclear-powered aircraft carrier to set sail for the Mediterranean from the Baltic Sea to help protect assets amid the war in the Middle East involving the United States, Israel and Iran.

The Charles de Gaulle aircraft carrier will go to the Mediterranean while being escorted by frigates, and its air wing, Macron said in a prerecorded speech on French television.

This comes at a time when US President Donald Trump rushed to announce that his country will take“immediate steps to safeguard maritime trade” as Iran blocked the Strait of Hormuz.

“And we will continue this effort as much as necessary,” Macron noted.

What is France's stance?

France has already deployed Rafale fighter jets, air defence systems, and airborne radar systems in the Middle East over the past few hours, the French President said.

Earlier, France, the UK and Germany had said they would not get involved in the war in the Gulf region, which escalated after Israel fired drones and missiles in the region. However, they said they were prepared to take defensive action to destroy Iran's capability to fire missiles and drones.

Also Read | Oil up modestly after Trump pledges insurance for ships through Strait of Hormuz Also Read | US-Iran conflict: Tehran shuts Strait of Hormuz - list of nations to be impacted Also Read | How many days will India's crude stock last if Hormuz shuts?

Macron, however, said that French forces had shot down drones“in legitimate self-defence in the very first hours of the conflict, to defend the airspace of our allies, who know they can rely on us,” without elaborating on the matter any further.

In explaining the need to move France's aircraft carrier, Macron cited Monday's strike on a British air force base on Cyprus, adding that Cyprus was a member of the European Union with which France has recently signed a strategic partnership.

“This requires our support," Macron said.

Trump rushes in to protect maritime trade

Days after the US strikes in Iran and the resulting tensions in the Middle East, Donald Trump announced that the US was moving to safeguard maritime trade in the Gulf region, where Tehran has threatened to block vessels passing through the Strait of Hormuz.

The closure of the arterial route has sparked concerns about global oil prices, 20% of which pass through this narrow channel near Iran.

In a post on Truth Social, Trump said he had directed the United States Development Finance Corporation (DFC) to provide political risk insurance and guarantees to ensure the financial security of all maritime trade, particularly energy shipments transiting through the Gulf.

“Effective IMMEDIATELY, I have ordered the United States Development Finance Corporation (DFC) to provide, at a very reasonable price, political risk insurance and guarantees for the Financial Security of ALL Maritime Trade, especially Energy, travelling through the Gulf. This will be available to all Shipping Lines,” Trump wrote in the post.

He also said that if necessary, the US Navy will escort these tankers through the Strait of Hormuz.

“If necessary, the United States Navy will begin escorting tankers through the Strait of Hormuz as soon as possible. No matter what, the United States will ensure the FREE FLOW of ENERGY to the WORLD. The United States' ECONOMIC and MILITARY MIGHT is the GREATEST ON EARTH,” Trump said.

Key Takeaways

• The Strait of Hormuz is a critical chokepoint for global oil trade, with 20% of the world's oil passing through.
• Both France and the US have made significant military and financial commitments to ensure the security of maritime routes.
• International collaboration is vital in addressing threats to global trade and energy supplies amid rising geopolitical tensions.

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