Countries met in Pakistan to prevent disruption in oil shipping through the Strait of Hormuz, a key route for global crude supply.
Proposal:
•Saudi Arabia, Turkey, and Egypt may form a consortium to manage and secure tanker movement.
•Pakistan has been asked to participate.
•Objective is coordinated control, security, and smooth flow of oil shipments.
Diplomatic angle:
•Plan has been informally discussed with both the United States and Iran, indicating a de-escalation attempt rather than conflict.
Why this matters:
•Strait handles ~20% of global oil → any disruption spikes prices.
•This plan aims to remove supply shock risk and stabilize shipping.