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: April 1, 2026

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Greece wants durable solution to ensure free shipping in Hormuz Strait
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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

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)

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.

References

Frequently Asked Questions

What 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.
Why 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.
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.
How 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.

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