France and Germany have ramped up diplomatic efforts to contain the fallout from an escalating Middle East oil crisis, seeking to project European autonomy and distance themselves from the US-Israeli war on Iran.
But as the conflict entered its second month, analysts said this was more about damage control than a leadership bid. They said while Berlin and Paris were at the forefront of calls for de-escalation they had limited room for manoeuvre given their security dependence on Washington.
Joint American-Israeli strikes on Iran that began on February 28 have killed dozens of senior Iranian officials, including former supreme leader Ayatollah Ali Khamenei in the first wave.
In retaliation, Iran’s missile strikes targeting Gulf countries aligned with the US have had a significant impact on the global energy chain, and it has effectively blocked the Strait of Hormuz through which roughly 20 per cent of the world’s oil supply travels.
Oil prices have surged, threatening European economies, as the strait’s daily transits dropped to a small fraction of its baseline of 130 vessels.
01:01
Iran warns the Middle East could ‘turn into hell’ as Trump gives Tehran 48 hours to make a deal
