In a bid to end the war of blockades strangling the global economy, France has deployed its premier naval asset, the aircraft carrier Charles de Gaulle, to the Red Sea.
Announced on May 6th, the deployment is the first phase of a high-stakes Franco-British proposal to secure the Strait of Hormuz through a multinational force.
With oil prices fluctuating around the $100-per-barrel mark and a fragile four-week truce shattered by recent skirmishes, Paris is pitching a ‘Grand Bargain’: Iran regains maritime passage in exchange for nuclear and missile negotiations, while the U.S. lifts its blockade in return for Tehran’s diplomatic commitment. According to the French presidency,
The reason why we must make a renewed effort today is simply that the blockade of Hormuz continues, the damage to the world’s economy is becoming more and more pronounced, and the risk of a prolongation of hostilities is too serious for us to accept it.
