Netherlands open to helping secure Strait of Hormuz after possible US-Iran peace deal

If needed, the Netherlands is ready to contribute to an international mission aimed at securing the Strait of Hormuz, said Minister Tom Berendsen (Foreign Affairs, CDA) in response to reports of a U.S.-Iran peace deal.

According to Pakistani Prime Minister Shehbaz Sharif, an agreement had been reached between the United States and Iran, meaning “that all military activity is reportedly supposed to cease immediately and permanently.” The peace deal is set to be signed by both parties in Switzerland on Friday, June 19, the same day that U.S. President Donald Trump is saying the Strait of Hormuz is going to reopen.

“Of course, we first need to see what the deal entails. It will take a few more days before that becomes clear,” Berendsen stated upon arrival in Luxembourg, where foreign ministers are holding discussions on a number of topics, including the possible reopening of the Strait of Hormuz. “Let us hope that stability and calm return to the region soon,” the minister said.

In response to the announcements, the European gas price on the Amsterdam exchange dropped by more than 5 percent to 44.32 euros per megawatt-hour on Monday morning. However, this remains higher than the price level prior to the outbreak of the conflict, when the price hovered around 32 euros per megawatt-hour.

The Amsterdam Exchange Index (AEX) rose on Monday toward the historic 1,100-point level on the Amsterdam Stock Exchange. Shortly after the opening, the AEX reached an intraday record high of 1,091.71 points. On Friday, the AEX already rose 1.7 percent to a new closing record of 1,081.18 points, driven by hopes of a swift end to the war

The main index is now well above the level seen before the Iran war. On February 27, a day before U.S.-Israeli strikes on Iran, the index closed at just over 1,027 points. On March 23, the AEX hit its lowest level since the Iran War at 942.19 points.