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Countries Propose Consortium to Secure Oil Shipping Through Strait of Hormuz

Saudi Arabia, Turkey, and Egypt are considering forming a consortium, with Pakistan's participation, to ensure the security and smooth flow of oil shipments through the Strait of Hormuz. The plan, discussed informally with the US and Iran, aims to prevent disruptions that could cause global oil price spikes by stabilizing this critical shipping route.
Date: 29.03.2026  |  Source: FOR-EX.NEWS

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