Iran may offer safe passage in the Strait of Hormuz; Israeli and Lebanese heads of state to meet today; Israel destroys last link to southern Lebanon.
Meanwhile, EU to boost refinery output amid fuel shortage concerns, Australia backs diesel imports from Asia and UK prepares for food shortage linked to Hormuz closure.
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The latest news at this hour:
IRAN MAY OFFER SAFE PASSAGE THROUGH HORMUZ: Iran may allow ships to pass safely through the Omani side of the Strait of Hormuz if a deal with the U.S. is reached. The deal would need to ensure the conflict doesn’t restart, according to Iranian sources who spoke to Reuters. This would help restore the global flow of oil and gas flows disrupted by the war, which has caused the price of fuel around the world to skyrocket.
The source also said that it is unclear whether Iran will allow all ships through the strait and whether it will clear mines previously planted in this area. The U.S. has previously said that they will clear mines in the Strait of Hormuz, but has said that locating the mines is difficult.
ISRAELI AND LEBANESE HEADS OF STATE TO MEET TODAY: Israeli Prime Minister Netanyahu will speak with Lebanon’s President Joseph Aoun for the first time today, one of Netanhayu’s ministers told Israeli media.
Yesterday Israeli and Lebanese delegations met in Washington for negotiations, following the most intense period of Israel’s bombardment of Lebanon since the start of the war in Iran. Iran claimed that Israel’s strikes violated the ceasefire agreement, a claim which Pakistan supported. Israel’s strikes, which began on March 2, have killed 2,164 and injured 7,061.
…ISRAEL DESTROYED LAST LINK TO SOUTHERN LEBANON: Israeli warplanes totally destroyed Qasmiyeh bridge, Lebanon’s state-run National News Agency (NNA) reported. Qasmiyeh bridge is the last crossing between Southern Lebanon and the rest of the country and a critical road which bridged the Litani river and has been repeatedly targeted by Israel. The destruction of this road will likely make life more difficult for many of the 1 million that have been displaced by Israel’s attacks.
EU TO BOOST REFINERY OUTPUT AMID FUEL SHORTAGE CONCERNS: The EU is drafting plans to boost refinery output as the Iran war threatens jet fuel supplies, according to Reuters. Airlines warn of shortages within weeks, risking higher prices and flight disruptions this summer. The region depends heavily on imported jet fuel, with roughly 75% coming from the Middle East.
A drafted European Commission proposal seen by Reuters outlines plans to map refining capacity across the EU and introduce steps to keep facilities operating at full capacity and prevent disruptions.
….MEANWHILE AUSTRALIA BACKS DIESEL IMPORTS FROM ASIA: Australia is supporting diesel imports from Asia at higher prices due to the war’s impact, Australian Prime Minister Anthony Albanese announced. The first shipments, over 570,000 barrels, are already on the way from Brunei to South Korea.
The government is working with fuel companies to prevent shortages, but current supplies will only last until May, raising concerns about future shortages.
UK PREPARES FOR FOOD SHORTAGES CONNECTED TO HORMUZ CLOSURE: The UK is preparing for possible food supply issues due to a shortage of carbon dioxide caused by the conflict, according to Bloomberg.
Officials say supermarkets are unlikely to have empty shelves, but consumers could face noticeable reduction in choice if the Strait of Hormuz remains closed into June. Chicken and pork are projected to be among the goods which could find themselves in short supply, as CO2 is used in meat preservation.
The UK government has taken steps to boost carbon dioxide production and is planning for the worst case scenarios to protect food and healthcare systems.
RUSSIA, CHINA SUBMIT UN RESOLUTION ON HORMUZ NAVIGATION: Russia has joined international discussions on navigation through the Strait of Hormuz, and has submitted a joint draft with China to the United Nations, which is now formally under consideration, a senior Russian official said.
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Stay safe out there!
Best,
Anastasiia
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