French President Emmanuel Macron said on Friday that France is working with Iraq and Jordan on plans to establish a pipeline linking Iraqi oil and gas supplies to European markets.
Macron stated that escalating tensions in the Middle East have disrupted energy markets and driven up petrol and fuel prices, placing additional pressure on households across Europe.
He stressed that France was not a party to the conflict that resulted in the closure of the Strait of Hormuz but was nonetheless affected by its economic repercussions. He called for a diplomatic resolution to reopen the strait and safeguard freedom of navigation.
Macron also highlighted France’s participation in an international mission to ensure the safe passage of oil tankers through the strait, adding that Paris plans to accelerate gas storage projects across Europe to mitigate rising energy costs and diversify energy supplies
