The Executive Director of the International Energy Agency (IEA) today argued that “the most important solution” to exit the energy crisis “is the total and unconditional reopening of the Strait of Hormuz.”
Fatih Birol stated today that “the most important solution” to exit the energy crisis “is the total and unconditional reopening of the Strait of Hormuz” so that “oil and gas can resume circulating toward Asia and beyond.”
In this sense, the agreement between the United States and Iran to end the war in the Middle East is “great news for the global economy and energy markets,” Birol also said at a press conference.
Moreover, the executive director stressed that the crisis related to the conflict will lead countries to now prioritize the safer energy option, and not only to the more economical one.
The crisis “has provoked a shock wave in the global energy sector,” which “is already leading many countries and many governments to review policies” and supply and production strategies, the IEA official estimated in his first public statement since the announcement of an agreement between Iran and the United States.
Donald Trump stated that the Strait of Hormuz would be “completely open” on Friday, the day of the signing of the agreement reached between the United States and Iran to end the war in the Middle East.
