U.S. President Donald Trump is calling on countries not involved in the U.S.-Israeli attack on Iran to help reopen the Strait of Hormuz where 20% of the world’s crude oil flows.
In a social media post, Trump called on China, Britain, France, Japan and South Korea to send warships to the Middle East to escort oil tankers through the waterway, which Iran is attacking.
Trump also warned that the NATO military alliance faces a bad future if members of the alliance don’t help to open the Strait of Hormuz, adding that Europe is dependent on Middle Eastern oil.
So far, the response from the foreign nations has been muted.
The European Union said it is discussing the issue, while the United Kingdom’s (U.K.) government said that it is exploring “options.”
Japan has ruled out helping to reopen the Strait of Hormuz, while France has said that it would help only if the conflict with Iran stabilizes.
Neither China nor South Korea have responded to Trump’s demand for help getting crude oil flowing from the Middle East again.
The demand from the U.S. president comes with Brent crude oil, the international standard, trading right around $105 U.S. a barrel, with analysts warning of higher prices to come.
The sharp rise in crude prices continues to cause volatility in global equity markets.
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