Fatih Birol, the head of the International Energy Agency, has called on NATO members and key Asian allies to contribute actively to efforts to restore security in the Strait of Hormuz, warning that the global energy crisis caused by its closure cannot be managed through reserve releases and demand measures alone. Speaking in Canberra, the IEA chief said the crisis now equals the combined force of the 1970s twin oil shocks and the Ukraine gas emergency, and that every nation with the capacity to help must step up. He noted that US President Trump had already criticized several allies for insufficient engagement.
Trump specifically called out NATO member nations as well as Australia, Japan, and South Korea for not doing enough to assist in securing the strait. Japan subsequently indicated it could consider deploying its military for minesweeping operations if a ceasefire is achieved, a signal Birol welcomed. He said any contribution from allied nations that could help restore safe commercial passage through Hormuz would directly benefit the entire world economy.
The conflict began February 28 with US and Israeli strikes on Iran and has since removed 11 million barrels of oil per day and 140 billion cubic metres of gas from world markets. These losses exceed the combined totals of the 1970s oil crises and the Ukraine gas disruption. At least 40 Gulf energy assets have been severely damaged, and the Hormuz strait — through which about 20 percent of global oil flows — remains closed to commercial shipping.
The IEA released 400 million barrels of oil from strategic reserves on March 11, the largest emergency action in its history, and called for demand-reducing policies including remote work, lower speed limits, and fewer flights. Birol said further releases were under consideration and that consultations with governments across three continents were ongoing. He stressed these measures could ease but not cure the underlying supply emergency.
Iran threatened retaliatory strikes on US and allied energy and desalination infrastructure after Trump’s 48-hour deadline expired. Birol met with Australian Prime Minister Anthony Albanese and emphasized the importance of allied coordination in addressing the crisis. He concluded that securing Hormuz was not just a military or diplomatic challenge — it was a global economic imperative, and one that required the broadest possible international coalition.
