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Home » direct impact on fuel prices – Ziarul Românesc UK – news from Great Britain
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direct impact on fuel prices – Ziarul Românesc UK – news from Great Britain

March 20, 20263 Mins Read
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direct impact on fuel prices – Ziarul Românesc UK – news from Great Britain
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The President of Romania, Nicușor Dan, announced on Friday evening, March 20, that our country joins the joint declaration signed by Great Britain, France, Germany, Italy, the Netherlands and Japan, through which the signatory states condemn the blockade of the Strait of Hormuz by Iranian forces and demand the restoration of freedom of navigation in the area.

Romanian Builders Network UK: the first meeting dedicated to Romanian builders in Great Britain

Why the Strait of Hormuz matters for Romania

Strait of Hormuz it is one of the most strategic energy routes of the planet. Before the escalation of the conflict, about 20% of the world’s oil and liquefied natural gas (LNG) transited this area. Its blockade has already led, in the last two weeks, to significant increases in the price of oil on international markets — increases felt directly at the gas pump, both in Romania and in the UK.

“Romania’s joining this effort takes place against the background of the serious implications that the closure of the Straits has on global energy markets, as well as on the world economy. The effects are also felt in Romania, especially in terms of fuel prices,” said Nicușor Dan.

The president also emphasized that Romania remains committed to de-escalation and does not intend to get directly involved in the conflict in the Middle East: “Romania maintains its clear decision not to get involved in the conflict in the Middle East and we are working with international partners for de-escalation.”

What the joint declaration provides and what Romania signed

The joint document, initially signed on Thursday by France, Germany, Italy, the Netherlands, Great Britain and Japan — to which Romania joined on Friday — condemns in firm terms Iran’s attacks on unarmed merchant ships in the Gulf, attacks against civilian infrastructure, including oil and gas installations, as well as the de facto blockade of the strait by Iranian forces.

The signatory states call on Iran to immediately cease threats, water mining, drone and missile attacks and any other actions that impede commercial shipping, and demand compliance with UN Security Council Resolution 2817.

The statement also welcomes the decision by the International Energy Agency (IEA) to authorize the coordinated release of strategic oil reserves — 400 million barrels have already been unlocked to calm markets — and the signatories commit to taking further steps to stabilize prices, including by working with producing countries to increase production.

Trump attacks NATO: “Without the US, you are a paper tiger”

The context of the statement is even more tense amid a virulent attack by the American president Donald Trump to the alliance NATO. Also on Friday, March 20, Trump wrote on the Truth Social platform that NATO allies refuse to get involved militarily to reopen the Strait of Hormuz, although this would be, in his opinion, “a simple military maneuver.”

“Without the US, NATO is a paper tiger! (…) Leave, and we will remember!”, Trump wrote, warning that the United States will remember the allies’ refusal to act.

What’s next

The signatory states, including Romania, expressed their willingness to contribute to efforts to ensure freedom of passage through the strait and announced that they would support the most affected nations through the UN and international financial institutions.

The situation remains volatile and developments in the Strait of Hormuz will continue to directly influence energy prices across Europe, including the UK.

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