US EditionMacron reaffirms efforts to reopen Strait of Hormuz, as TotalEnergies warns of energy shortages
TotalEnergies warned that prolonged disruption could strand 20% of global oil and gas supply and deepen shortages of energy and key goods.
- On Saturday, French President Emmanuel Macron reaffirmed his government's focus on reopening the Strait of Hormuz, a vital energy corridor currently choked by the ongoing U.S.-Israeli war with Iran.
- TotalEnergies CEO Patrick Pouyanne warned Friday that sustained closures could trigger global energy scarcity, noting 20% of the planet's oil and gas supply remains stranded and inaccessible.
- More than a dozen nations have pledged to join a French- and British-led mission to protect shipping in the strait when conditions permit, even as President Donald Trump stated he does not need allies' help.
- Macron said the goal is achieving a full reopening in coming weeks to guarantee freedom of navigation without transit tolls, allowing markets to gradually return to normal conditions.
- Speaking in Athens alongside Greek Prime Minister Kyriakos Mitsotakis, Macron cautioned that panic driven by geopolitical uncertainty could itself trigger shortages, adding that nations are "victims of this war.
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In LCI, Philippe Chalmin, professor of economic history and president of Cyclope, validates the analysis of TotalEnergies' boss. For this raw materials specialist, "if the situation continues for another 50 days, we would enter an era of shortage". - A risk of fuel shortage due to the conflict in the Middle East? The boss of TotalEnergies "is absolutely right", according to economist Philippe Chalmin (Economy).
The Head of State assured that the war in the Middle East today did not "consider any shortage" of fuel in France, warning against scenarios that could cause "panic behaviour".
While the boss of TotalEnergies has alerted about the possible shortage of fuels in France within a few months, Emmanuel Macron wanted to be more reassuring. During a visit to Athens, the president assured that "the situation does not make us consider any shortage", for the moment. He also considered that it is the panic movements that usually cause shortages.
Macron reaffirms efforts to reopen Strait of Hormuz
French President Emmanuel Macron reiterated on Saturday that he was focused on efforts to reopen the Strait of Hormuz, a day after the head of TotalEnergies warned of global energy shortages if the Iran war continues for months. Macron, speaking at a news conference in Athens alongside Greek Prime Minister Kyriakos Mitsotakis, said panic caused by geopolitical uncertainty can in itself lead to shortages. "Our goal is to achieve a full reopening …
"We know it will take some time to stabilize the situation [...]. Things are not simple, but we are not considering the worst scenario, which is currently not the most likely," said Emmanuel Macron.
The Head of State is careful not to do "fiction politics", he estimated during a visit to Greece. And prefers prudence.
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