The discussion led by Britain and France on steps to open the Strait of Hormuz will include possible financial sanctions against Iran if it keeps the waterway blocked, as well as steps to cooperate with the shipping industry to resume shipping, Reuters reports.
Paris and London, who are seeking to take the lead in the initiative after previous military and political meetings, are seeking to show their readiness to play a role in restoring freedom of navigation after the end of the conflict.
The offices of French President Emmanuel Macron and British Prime Minister Keir Starmer said they would co-chair a video conference in Friday with about 40 countries willing to contribute to the multilateral mission.
Senior diplomats will hold a phone call before Friday to prepare the meeting, three other European diplomats said.
According to a Reuters source familiar with the matter, the meetings this week will focus on four working groups: protecting freedom of navigation and maritime security, taking economic measures against Iran if the strait remains closed, securing the release of sailors and blocked ships and working with industry to support their readiness to resume transit.
One of the sources said Britain was leading the “diplomatic line,” while France was working on military planning, which would assess what resources might be available from participating countries and how they could be deployed.
Iran has largely closed the strait to ships other than its own since the start of the US-Israeli airstrikes on February 28. On Monday, Washington imposed a blockade on ships entering or leaving Iranian ports.
Trump has called on other countries to help enforce the blockade. Britain, France and others say they will not do so because it would mean joining the war, but would be willing to help keep the strait open when the fighting ends.
The sources said the talks were still preliminary and any mission could only take place after the conflict ends and with some form of agreement from Iran and the United States.
"The United States needs to step up. It is paradoxical at the moment because the United States is the most unpredictable," a senior European diplomat told Reuters.