Search
00
GBAF Logo
trophy
Top StoriesInterviewsBusinessFinanceBankingTechnologyInvestingTradingVideosAwardsMagazinesHeadlinesTrends

Subscribe to our newsletter

Get the latest news and updates from our team.

Global Banking & Finance Review®

Global Banking & Finance Review® - Subscribe to our newsletter

Company

    GBAF Logo
    • About Us
    • Advertising and Sponsorship
    • Profile & Readership
    • Contact Us
    • Latest News
    • Privacy & Cookies Policies
    • Terms of Use
    • Advertising Terms
    • Issue 81
    • Issue 80
    • Issue 79
    • Issue 78
    • Issue 77
    • Issue 76
    • Issue 75
    • Issue 74
    • Issue 73
    • Issue 72
    • Issue 71
    • Issue 70
    • View All
    • About the Awards
    • Awards Timetable
    • Awards Winners
    • Submit Nominations
    • Testimonials
    • Media Room
    • FAQ
    • Asset Management Awards
    • Brand of the Year Awards
    • Business Awards
    • Cash Management Banking Awards
    • Banking Technology Awards
    • CEO Awards
    • Customer Service Awards
    • CSR Awards
    • Deal of the Year Awards
    • Corporate Governance Awards
    • Corporate Banking Awards
    • Digital Transformation Awards
    • Fintech Awards
    • Education & Training Awards
    • ESG & Sustainability Awards
    • ESG Awards
    • Forex Banking Awards
    • Innovation Awards
    • Insurance & Takaful Awards
    • Investment Banking Awards
    • Investor Relations Awards
    • Leadership Awards
    • Islamic Banking Awards
    • Real Estate Awards
    • Project Finance Awards
    • Process & Product Awards
    • Telecommunication Awards
    • HR & Recruitment Awards
    • Trade Finance Awards
    • The Next 100 Global Awards
    • Wealth Management Awards
    • Travel Awards
    • Years of Excellence Awards
    • Publishing Principles
    • Ownership & Funding
    • Corrections Policy
    • Editorial Code of Ethics
    • Diversity & Inclusion Policy
    • Fact Checking Policy
    Original content: Global Banking and Finance Review - https://www.globalbankingandfinance.com

    A global financial intelligence and recognition platform delivering authoritative insights, data-driven analysis, and institutional benchmarking across Banking, Capital Markets, Investment, Technology, and Financial Infrastructure.

    Copyright © 2010-2026 - All Rights Reserved. | Sitemap | Tags

    Editorial & Advertiser disclosure

    Global Banking & Finance Review® is an online platform offering news, analysis, and opinion on the latest trends, developments, and innovations in the banking and finance industry worldwide. The platform covers a diverse range of topics, including banking, insurance, investment, wealth management, fintech, and regulatory issues. The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website.

    1. Home
    2. >Finance
    3. >Greece wants durable solution to ensure free shipping in Hormuz Strait
    Finance

    Greece Wants Durable Solution to Ensure Free Shipping in Hormuz Strait

    Published by Global Banking & Finance Review®

    Posted on March 17, 2026

    2 min read

    Last updated: March 17, 2026

    Greece wants durable solution to ensure free shipping in Hormuz Strait - Finance news and analysis from Global Banking & Finance Review
    Why waste money on news and opinion when you can access them for free?

    Take advantage of our newsletter subscription and stay informed on the go!

    Subscribe

    Tags:FinanceShippingGeopoliticsOil Markets

    Quick Summary

    Greece opposes piecemeal deals for Strait of Hormuz transit, preferring a long‑term multilateral framework under international bodies to safeguard shipping stability.

    Greece Urges International Accord for Secure Shipping in Hormuz Strait

    Greece’s Position on Shipping Security in the Strait of Hormuz

    Official Statement from Greek Foreign Minister

    ATHENS, March 17 (Reuters) - Greece does not back any separate deals that would allow ships to enter and exit the Strait of Hormuz but wants a durable solution to safeguard peace in the region, its Foreign Minister George Gerapetritis said on Tuesday.

    Opposition to Separate Agreements

    "We do not think that it is optimal to have separate agreements, so that ships enter or leave the Strait of Hormuz," Gerapetritis told reporters alongside his German counterpart Johann  Wadephul in Berlin.

    Call for International Collaboration

    "What we want is a well-established lasting solution, which will ensure peace and this can only be done under a wider alliance and under the auspices of international organizations and in particular the United Nations," he said.

    Greece’s Role in Global Shipping

    Greek-Controlled Merchant Fleets

    Greece is a dominant force in global shipping, controlling one of the world’s largest merchant fleets. Many ships that are Greek owned or managed are in the wider Gulf area, with crews including dozens of Greek seafarers.

    Strategic Importance of the Strait of Hormuz

    Impact on Global Energy Trade

    Shipping through the Strait of Hormuz - a vital gateway for about 20% of the world's oil and liquefied natural gas trade - has been disrupted amid the ongoing U.S.-Israeli war on Iran. 

    Reporting and Editorial Credits

    (Reporting by Angeliki Koutantou; Editing by Andrew Cawthorne and Aidan Lewis)

    Table of Contents

    • Greece’s Position on Shipping Security in the Strait of Hormuz

    Key Takeaways

    • •Greece rejects bilateral or separate agreements, calling for a multilateral, UN‑endorsed solution to ensure peace and open transit through Hormuz.
    • •The Strait of Hormuz is a critical global energy chokepoint, handling about 20–25 % of seaborne oil and significant LNG flows, making secure shipping vital.
    • •Greece’s leading role in global shipping—controlling around 16–20 % of global tonnage—means disruptions through Hormuz deeply impact its maritime sector.

    Frequently Asked Questions about Greece wants durable solution to ensure free shipping in Hormuz Strait

    1What is Greece's position on shipping agreements in the Strait of Hormuz?

    Greece opposes separate agreements for ship passage and prefers a durable, internationally supported solution.

    2Why is the Strait of Hormuz important for global trade?

    The Strait of Hormuz is a crucial passage for about 20% of the world’s oil and LNG trade.

    3
  • Official Statement from Greek Foreign Minister
  • Opposition to Separate Agreements
  • Call for International Collaboration
  • Greece’s Role in Global Shipping
  • Greek-Controlled Merchant Fleets
  • Strategic Importance of the Strait of Hormuz
  • Impact on Global Energy Trade
  • Reporting and Editorial Credits
  • What solution does Greece propose for the Hormuz Strait issue?

    Greece advocates for a lasting solution under an international alliance, especially led by the United Nations.

    4How is Greece involved in maritime activity near the Strait of Hormuz?

    Greece controls one of the world’s largest merchant fleets, with many of its ships and seafarers active in the Gulf area.

    More from Finance

    Explore more articles in the Finance category

    Image for Commerzbank CEO calls UniCredit offer a very low price
    Commerzbank CEO Calls UniCredit Offer a Very Low Price
    Image for Premiums for Caspian oil grades surge vs Brent amid Middle East supply disruptions, traders say
    Premiums for Caspian Oil Grades Surge vs Brent Amid Middle East Supply Disruptions, Traders Say
    Image for UK lawmakers question Lloyds over account glitch that exposed customers' details
    UK Lawmakers Question Lloyds Over Account Glitch That Exposed Customers' Details
    Image for Italy’s antitrust watchdog launches fact‑finding inquiry into quantum computing sector
    Italy’s Antitrust Watchdog Launches Fact‑finding Inquiry Into Quantum Computing Sector
    Image for Ukraine accepts EU offer to help restore Druzhba pipeline
    Ukraine Accepts EU Offer to Help Restore Druzhba Pipeline
    Image for Ukraine's petrol imports doubled in February amid high demand, Enkorr consultancy says
    Ukraine's Petrol Imports Doubled in February Amid High Demand, Enkorr Consultancy Says
    Image for Bank of England unveils plan to enhance bank liquidity in crises
    Bank of England Unveils Plan to Enhance Bank Liquidity in Crises
    Image for UK banking stability watchdog proposes liquidity reform for banks
    UK Banking Stability Watchdog Proposes Liquidity Reform for Banks
    Image for Infineon executive urges Europe to build larger, automated fabs
    Infineon Executive Urges Europe to Build Larger, Automated Fabs
    Image for After delays, EU lawmakers move closer to vote on US trade deal
    After Delays, EU Lawmakers Move Closer to Vote on US Trade Deal
    Image for EU carbon prices slide after lawmakers signal market intervention
    EU Carbon Prices Slide After Lawmakers Signal Market Intervention
    Image for Private credit noise to continue, Deutsche Bank CEO predicts
    Private Credit Noise to Continue, Deutsche Bank CEO Predicts
    View All Finance Posts
    Previous Finance PostGerman Investor Morale Collapses in March, Zew Finds
    Next Finance PostAudi Forecasts Margin Rebound in 2026 but Battles on With Tariffs