EU Considers Extending Naval Mission to Reopen Strait of Hormuz

EU foreign ministers will discuss Monday extending Operation Aspides to the Strait of Hormuz, where Iranian attacks have halted 20% of global oil traffic. The EU's current Red Sea mission has three warships; changing its mandate could be the fastest way to secure the vital waterway. Oil prices surged 14% to $86/barrel as supplies were disrupted. France and the US urge NATO allies to help reopen the strait, warning of economic consequences. Nigeria's economy, reliant on oil exports, faces potential Naira depreciation and inflation risks from sustained high prices.

SOURCE: https://www.channelstv.com/2026/03/16/eu-considers-extending-naval-mission-to-strait-of-hormuz/