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The Economic Times
The Economic Times

'Opportunity to restore regional peace, stabilise global economy': US-Iran breakthrough draws global support

Leaders across Europe and the Indo-Pacific on Monday welcomed the landmark peace agreement between the United States and Iran, describing it as a rare diplomatic opening to restore stability in West Asia, revive freedom of navigation through the Strait of Hormuz, and ease mounting pressure on global energy markets and economic growth and with creating momentum for a lasting resolution of concerns surrounding Tehran's nuclear programme.

They also hailed the steps between Tehran and Washington towards reopening the Strait of Hormuz as an essential factor to the burden of energy prices being felt across global economies.

The statement from the leaders of France, the United Kingdom, Germany and Italy noted that now it is essential that the detailed negotiations conclude and that this agreement be implemented swiftly and fully.

Read More: Peace deal between Iran, US reached; to be signed officially on Jun 19 in Switzerland: Pakistan's PM Shehbaz Sharif

They called it a moment of opportunity to restore regional stability and stabilise the global economy.

"The urgent reopening of the Strait of Hormuz, with unconditional and unrestricted freedom of navigation, is essential. We are committed to playing our part in achieving this--in accordance with our respective constitutional requirements--including through a strictly defensive and independent mission aimed at reassuring commercial traffic and conducting mine-clearing operations," they said in the statement.

They reiterated the call for Iran to never acquire nuclear weapons and said, "We are ready to work with the United States, Iran, and the IAEA toward this end. We are prepared to lift relevant sanctions in response to clear and verifiable steps taken by Iran regarding its nuclear program."

Japanese Prime Minister Sanae Takaichi welcomed the agreement on the MoU regarding the cessation of hostilities as a major step towards resolving the situation.

In a post on X, she expressed optimism and said. "In the future, we strongly hope that this memorandum will be steadily implemented, that free and safe navigation in the Strait of Hormuz will be actually ensured, and that a final agreement on Iran's nuclear issue and other matters will be realised at the earliest possible date."

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