The decision comes amid escalating tensions in the Gulf following the ongoing 2026 Strait of Hormuz crisis, which has severely disrupted global shipping and energy markets.

Allies decline U.S. request for naval support

The United States had urged allied countries to contribute warships to escort commercial vessels through the strait after Iran effectively closed the strategic waterway during the escalating regional conflict.

However, leaders in the United Kingdom, Australia and Japan said they currently have no plans to send naval vessels to participate in such a mission.

Japanese Prime Minister Sanae Takaichi told parliament that Tokyo is still evaluating the situation and considering actions within its legal framework but has not approved any escort operation in the Gulf.

Australia also ruled out joining the mission, with government officials stating that Canberra had not committed to deploying ships to the area despite the strategic importance of the waterway.

The United Kingdom has similarly avoided committing warships to the operation, emphasizing diplomatic coordination and broader international consultation instead of immediate military escalation.

Strategic waterway at the center of global tensions

The Strait of Hormuz is one of the most important maritime chokepoints in the world. Located between Iran and Oman, the narrow passage connects the Persian Gulf with the Gulf of Oman and the Arabian Sea.

Roughly 20% of the world’s daily oil supply passes through the strait, making it a crucial artery for global energy markets.

Since the outbreak of the conflict between Iran, the United States and Israel earlier this year, the strait has become a focal point of military and economic confrontation. Iran has reportedly launched missile, drone and naval attacks on shipping in the region, causing tanker traffic to collapse and forcing hundreds of vessels to avoid the route.

The disruption has already pushed oil prices sharply higher and raised concerns about a major global energy shock.

Challenges for a U.S.-led naval coalition

Washington has been pushing for an international naval coalition to protect commercial shipping and reopen the waterway. But the refusal of several major allies highlights the difficulty of building consensus for a potentially risky military operation.

Many governments fear that deploying warships could draw them directly into the widening conflict with Iran. Some European leaders have argued that a diplomatic solution is the only sustainable way to restore safe passage through the strait.

Analysts say the reluctance reflects concerns over escalation and the unclear scope of the mission, particularly as tensions continue to rise across the Middle East.

Economic and geopolitical consequences

The ongoing crisis has already had profound global consequences. Shipping companies have suspended operations in the strait, while oil tanker traffic has fallen dramatically.

The disruption has affected nearly a fifth of global oil supply, triggering a surge in energy prices and raising fears of a wider economic shock if the closure persists.

Countries heavily dependent on Gulf energy imports including Japan and many European economies now face a difficult balancing act between protecting trade routes and avoiding deeper military involvement.

Diplomatic efforts continue

Despite the stalemate, diplomatic efforts are continuing behind the scenes as governments attempt to prevent further escalation.

Some nations are exploring alternative maritime security arrangements, while others are pushing for negotiations aimed at reopening the strait and stabilizing global markets.

For now, however, the lack of broad international support for a naval coalition leaves the United States largely alone in its effort to secure the vital shipping corridor underscoring the growing geopolitical divisions surrounding the crisis.

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The Paris-based energy watchdog announced that its 32 member countries have agreed to make around 400 million barrels of oil from strategic reserves available to the market, a move aimed at easing supply shortages and curbing soaring fuel prices.

The unprecedented action comes as the war involving Iran, the United States and Israel threatens one of the world’s most critical energy supply routes.

Largest Emergency Oil Release Ever

According to the IEA, the proposed release would surpass previous emergency stock drawdowns, including the 182 million barrels released in 2022 after the Russian invasion of Ukraine triggered a global energy shock.

IEA Executive Director Fatih Birol said the scale of disruption currently facing oil markets requires an unprecedented global response.

“The oil market challenges we are facing are unprecedented in scale,” Birol said, adding that energy security remains the core mandate of the agency.

The emergency oil stocks will be released gradually, with each member country determining the timing and volume based on national circumstances.

Conflict Disrupting Global Oil Flows

The plan comes as escalating tensions in the Middle East have severely disrupted crude shipments through the Strait of Hormuz a narrow maritime corridor that normally carries roughly 20% of the world’s oil and petroleum products.

Attacks on oil tankers, naval mines and military strikes across the Gulf have forced many shipping companies to suspend operations in the region. Export volumes passing through the strait have reportedly fallen to less than 10% of normal levels, triggering fears of a global supply shock.

Oil prices surged above $100 per barrel after the conflict erupted in late February, sparking volatility in global markets and raising concerns about inflation and economic slowdown.

Massive Emergency Stockpiles

IEA member states collectively hold about 1.2 billion barrels of government-controlled emergency reserves, along with an additional 600 million barrels held by industry under government mandates, providing a crucial buffer during supply disruptions.

The United States is expected to contribute a significant portion of the planned release due to the size of its Strategic Petroleum Reserve.

Energy officials say the coordinated move is designed to send a strong signal to markets that governments are prepared to intervene to prevent a prolonged supply crisis.

Limited Solution to a Major Supply Shock

Despite the historic scale of the planned release, analysts warn that the measure may only provide temporary relief if disruptions in the Middle East persist.

A prolonged closure or instability around the Strait of Hormuz could remove millions of barrels per day from global supply far more than emergency reserves alone can replace.

“Strategic reserves can stabilize markets for a limited period,” analysts say, “but they cannot fully offset a long-term disruption in one of the world’s most important oil corridors.”

Global Markets Watching Closely

Energy traders and governments worldwide are closely monitoring the situation as tensions continue to escalate.

If the conflict spreads further or shipping through the Strait of Hormuz remains restricted, economists warn that oil prices could rise sharply again, potentially triggering a new global energy crisis.

For now, the IEA’s proposed record stock release represents one of the most dramatic coordinated interventions in oil markets since the agency was created in 1974 to safeguard global energy security.

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