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EU's Kallas says they must scale up EU's aspides naval mission; cannot afford to lose another critical trade route

The remarks from EU's Kallas underscore the importance of maintaining critical trade routes amid rising tensions, particularly concerning the Strait of Hormuz.

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EU's Kallas says they must scale up EU's aspides naval mission; cannot afford to lose another critical trade route

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  • Support work by the UN on humanitarian corridors in the Strait of Hormuz to get food and fertilisers out.
  • Iran cannot be allowed to charge countries a bounty to let ships pass
Context

If the EU increases its naval mission presence, it signals a stronger stance against any disruptions that could impact energy prices and trade flows, especially for nations reliant on these routes, which could influence currency markets, particularly the USD and EUR.

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