Leaders of 26 Nations Issue Joint Statement Supporting Freedom of Navigation in the Strait of Hormuz

"Support for Multinational Military Missions Including Mine-Clearing"
Trump: "Xi Jinping Also Wants Hormuz Traffic to Resume"

On May 14 (local time), the leaders of 26 countries, including South Korea, issued a joint statement calling for the normalization of navigation through the Strait of Hormuz and expressing support for a multinational military mission.

According to CNN, the leaders of 26 nations—including the United Kingdom, Canada, and Qatar—reaffirmed in their statement their collective commitment to employ diplomatic, economic, and military resources to support freedom of navigation in the Strait of Hormuz. They emphasized that “navigation must remain free in accordance with the United Nations Convention on the Law of the Sea (UNCLOS) and international law,” and declared their support for an independent, purely defensive multinational military mission, including mine-clearing operations. The statement further clarified that this multinational military mission would serve to complement ongoing diplomatic engagement and de-escalation efforts, and that such plans would only be implemented if a permissive environment is established.

Hormuz Strait. Reuters Yonhap News

CNN reported that while the signatory countries must consider their respective domestic political situations and legislative procedures, they have expressed political support for the multinational mission.

There has been an increase in the number of Very Large Crude Carriers (VLCCs) transporting non-sanctioned crude oil through the Strait of Hormuz. According to Bloomberg, ship tracking data showed that four tankers carrying a total of 2 million barrels of crude oil exited the Strait of Hormuz after May 10. However, this figure remains below the pre-war average, when about 20 tankers passed through the strait daily. Georgios Sakellariou, cargo analyst at Signal Maritime, stated that “while there is an upward trend, the scale is still too small to make a significant difference,” adding, “The bigger issue is that even if all tankers currently in the strait manage to exit, new vessels are unlikely to enter in the near term.”

As of around 10 a.m. KST, July Brent crude futures on the ICE Futures Exchange were trading at $106.60 a barrel, up 0.83%. June West Texas Intermediate (WTI) crude futures on the New York Mercantile Exchange were up 0.77%, trading at $101.95 a barrel.

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