Six Nations Issue Joint Statement on Strait of Hormuz Security as Oil Prices and Bitcoin’s Haven Case Draw Scrutiny

The Strait of Hormuz is a key route for crude oil exports from the Persian Gulf. Iran’s recent repeated attacks on unarmed merchant ships have heightened risks to shipping and energy supplies. Britain, France, Germany, Italy, Japan and the Netherlands coordinated their position and backed an International Energy Agency release of strategic oil reserves. The turmoil is also testing whether Bitcoin can serve as a haven during armed conflict.

On the evening of March 19, 2026, the six countries issued a joint statement calling on Iran to comply with U.N. Security Council Resolution 2817 and pledging to make an “appropriate contribution” to safe passage through the strait. They provided no details on military action or escorts. Brent crude retreated from more than $110 a barrel to $106.9 after the statement, while Bitcoin briefly fell below $69,000 over the same period, leaving its haven narrative unproven.