Turkey, Egypt and Saudi Arabia want to create a consortium to manage Hormuz

Today's negotiations in Pakistan, Turkey, Egypt and Saudi Arabia have been focused on proposals to open the Strait of Hormuz to shipping. This was reported by Reuters, citing sources.

"Representatives of the countries gathered in Pakistan, transferred to Washington has made proposals related to maritime traffic and the reopening of the Strait of Hormuz, five sources familiar with the matter told Reuters, as part of a broader effort to stabilize shipping flows," the agency reports.

According to a source from Proposals, including from Egypt, were transmitted to the countries through the White House before Sunday's meeting and included a Suez Canal-style fee structure. Two other Pakistani sources said that Turkey, Egypt and Saudi Arabia could form a consortium to manage oil flows through the strait, and asked Pakistan to participate in it.

The first Pakistani source, meanwhile, said that Islamabad was not officially invited to join the consortium, he claims that Pakistan will not.

According to sources, the proposal to create a management consortium was discussed with the United States and Iran. The first Pakistani source claims that the commander-in-Chief of the Defense Forces and Chief of Staff of the Ground Forces of Pakistan Asim Munir maintained regular contacts with US Vice President Jay D. Vance.

In turn, a Turkish diplomatic source said that Ankara's priority is to ensure a ceasefire. "Ensuring the safe passage of ships can be an important confidence—building measure in this regard," he said.

It is noted that earlier about a fifth of the world's oil and liquefied natural gas supplies passed through the Strait of Hormuz, but Iran actually stopped shipping through it in response to the US and Israeli air strikes that began a month ago.