UK & 35 Nations Hormuz Summit April 3 — Can Diplomacy Reopen the World's Energy Lifeline?

In what amounts to the most significant multilateral energy diplomacy in decades, 35 nations are gathering virtually on April 3, 2026, under UK chairmanship to find ways of reopening the Strait of Hormuz — the narrow waterway through which approximately one-fifth of the world's oil and liquified petroleum gas normally flows every day.

British Prime Minister Keir Starmer announced the summit on April 1, stating it will "assess all viable diplomatic and political measures we can take to restore freedom of navigation, guarantee the safety of trapped ships and seafarers and to resume the movement of vital commodities." Starmer has been candid about the difficulty: "This will not be easy," he told assembled energy and shipping leaders at Downing Street.

Who Is Attending — and Who Isn't

The 35 participating nations include the UK, France, Germany, Italy, Canada, Japan, UAE, Netherlands, Australia, South Korea and dozens of other nations that have either signed the joint Hormuz statement or subsequently joined. The geographic breadth reflects the truly global nature of the energy crisis triggered by the strait's closure.

Most conspicuously absent is the United States. President Trump posted on Truth Social that allies should "go get your own oil," and told them "the U.S.A. won't be there to help you anymore." This creates an unprecedented situation where the world's largest military power is effectively sitting out the most important energy security crisis in decades, leaving European and Asian allies to coordinate independently.

What the Summit Can — and Cannot — Achieve

Analysts are measured about the summit's immediate prospects. No country attending is willing to force open the strait militarily while fighting continues and Iran retains its arsenal of anti-ship missiles, drones, attack craft and naval mines. The summit's output will therefore be primarily diplomatic: a coordinated political message demanding Iran restore shipping access, and a framework for working-level follow-up meetings to develop operational plans.

The more substantive outcome will come from separate meetings of military planners from "an unspecified number of countries" who will work on ensuring security for shipping "after the fighting has stopped" — a phrase that itself signals the summit's limitations. The immediate crisis will likely be managed through reserve releases, supply rerouting and demand reduction measures rather than diplomatic breakthrough.

Impact on Global LPG and Energy Prices

The summit announcement has had a modest stabilising effect on oil markets, with Brent crude pulling back slightly from its recent highs above $110/barrel. However, markets remain deeply uncertain. Treasurer Jim Chalmers of Australia has warned that crude could reach $150/barrel, while some analysts have floated $200/barrel scenarios if the closure extends beyond mid-April.

For households dependent on LPG cooking gas, the summit represents hope but not immediate relief. India, which imports 40-45% of its LPG from Gulf producers, Pakistan, Bangladesh, Sri Lanka and dozens of other countries will continue to face elevated prices and supply uncertainty regardless of Thursday's outcome.

What Countries Are Doing to Survive the Wait

While the diplomats meet, countries are implementing a wide range of emergency measures to manage energy scarcity. The Philippines has declared a national energy emergency. Sri Lanka has implemented QR code fuel rationing. Australia has halved its fuel excise and activated its 4-stage National Fuel Security Plan. Pakistan has closed schools for two weeks. South Korea has launched a nationwide voluntary conservation campaign. New Zealand has activated its 4-level fuel alert system at Level 1.

The IEA's emergency release of 400 million barrels of strategic reserves — described as the largest in history — has provided some relief but analysts say it is insufficient to offset the disruption if the closure continues.