NATO explores possible mission in Strait of Hormuz to protect ships - Bloomberg

NATO is discussing the possibility of helping ships pass through the Strait of Hormuz if Iran does not lift the blockade by early July, sources told Bloomberg. This key artery for world oil supplies has remained virtually closed since the beginning of the Iranian crisis.

According to Bloomberg interlocutors, the initiative is supported by several members of the bloc, but there is no unanimous decision yet: some allies fear the alliance's involvement in the Iranian conflict. NATO leaders are to discuss the situation at a meeting in Ankara on July 7-8, the agency writes. A NATO spokesman did not respond to his request for comment.

Brent oil fell in price by about 1.5% to $110 per barrel at the auction on May 19. At the moment, the price fell below this mark.

NATO's intervention would be a change in the alliance's position; so far, U.S. allies have insisted that they can only get involved in ensuring the safety of shipping once hostilities have ceased and a broad international coalition has been formed, Bloomberg notes. At the same time, some countries, including Spain, have openly opposed the war, banning the U.S. from using its airspace and bases to strike Iran.

There is no clear solution as to how exactly NATO countries could guarantee safe passage, the agency writes. Earlier this month, the US announced the launch of Operation Project Freedom, assuming that the country's navy would escort commercial ships in the Strait of Hormuz. However, just a day later Trump canceled it, citing "significant progress" in negotiating a peace deal.

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