Report: France and Italy open diplomatic channel with Iran to secure passage of ships through Hormuz
Oil prices have been adversely affected by the war, which has prompted Iran to attack vessels in the Strait of Hormuz, the conduit for a fifth of the world's oil
Several European nations have opened diplomatic channels with Iran's Islamic regime to negotiate a deal guaranteeing safe passage for their ships through the Strait of Hormuz, the Financial Times reported on Friday citing "people briefed on the efforts."
The states that signed up to the diplomatic push in a bid to restart energy shipments from the Gulf include France, according to the report.
Oil prices have been adversely affected by the war, which has prompted Iran to attack vessels in the Strait of Hormuz, the conduit for a fifth of the world's oil.
With gasoline and diesel prices rising at pumps in the United States and around the world, the U.S. on Thursday issued a 30-day licence for countries to buy Russian oil and petroleum products currently at sea.
The International Energy Agency said on Thursday the war was creating the biggest oil supply disruption in history. Average U.S. retail diesel prices hit $4.89 a gallon on Thursday, the highest since December 2022, data from the motorist association AAA showed.