Finance
EU's kallas floats black sea model to unblock strait of hormuz
Published by Global Banking & Finance Review®
Posted on March 16, 2026
3 min readLast updated: March 16, 2026
Global Banking & Finance Review®
Company
Published by Global Banking & Finance Review®
Posted on March 16, 2026
3 min readLast updated: March 16, 2026
EU foreign policy chief Kaja Kallas proposed using a Black Sea grain‑deal style mechanism to revive oil and gas transit via the Strait of Hormuz, now choked by Iran’s maritime attacks that threaten global energy and fertilizer supplies.
BRUSSELS, March 16 (Reuters) - EU foreign policy chief Kaja Kallas said on Monday she had discussed with the United Nations the idea of freeing up transport of oil and gas through the Strait of Hormuz by replicating a deal that gets grain out of Ukraine during wartime.
Arriving at a meeting of EU foreign ministers in Brussels, Kallas said she had spoken to U.N. Secretary General Antonio Guterres about the idea to unblock the strait, currently choked off due to the Iran war.
"I had talks with Antonio Guterres about whether it was possible to also have the same kind of initiative like we had (with) the Black Sea Initiative," Kallas said.
Iran has effectively shut the Strait of Hormuz, amid the U.S.-Israeli war on Iran, now in its third week. Iranian forces have attacked ships in the narrow channel between Iran and Oman, choking off a fifth of global oil supply in the biggest disruption ever.
Kallas said the closure of the strait was "really dangerous" for energy supplies to Asia but was also a problem for the production of fertilisers.
"And if there is a lack of fertilisers this year, there's going to be also food deprivation next year," Kallas said. She did not provide any more details.
Kallas said ministers would also discuss whether it was possible to change the mandate of the EU's small Middle East naval mission, Aspides, which currently focuses on protecting ships in the Red Sea from Yemen's Houthi rebel group.
"It is in our interest to keep the Strait of Hormuz open and that's why we are also discussing what we can do in this regard from the European side," she said.
Asked about the scepticism expressed by German Foreign Minister Johann Wadephul on whether Aspides could be useful in the Strait of Hormuz, Kallas said: "Of course we need to also have the member states on board."
"If the member states say that we are not doing anything with this, then of course it's their decision, but we have to discuss how we help to keep the Strait of Hormuz open."
(Reporting by Lili Bayer, Charlotte Van Campenhout and Andrew Gray; Editing by Sudip Kar-Gupta and Kate Mayberry)
EU foreign policy chief Kaja Kallas proposed replicating the Black Sea Initiative, which freed grain transport from Ukraine, to restore oil and gas movement through the Strait of Hormuz.
The strait is blocked due to military action involving Iran and attacks on ships, disrupting about a fifth of global oil supply.
Kaja Kallas is the EU foreign policy chief advocating for a solution to the Hormuz blockade and discussing options with the UN.
The closure creates a significant risk to Asia's energy supplies and threatens fertilizer production, which could lead to future food shortages.
Discussions are ongoing about expanding the EU’s Aspides naval mission, currently focused on the Red Sea, to help keep the Strait of Hormuz open.
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