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The United States' March 7 strike on Iran's Qeshm Island - on a desalination plant supplying water to 30 villages - underlined the island's importance in controlling the Strait of Hormuz.

Further, the six nations stated their strategies, which include calling on Iran to cease immediately its threats, laying of mines, drone and missile attacks and other attempts to block the Strait to commercial shipping, and to comply with UN Security Council Resolution 2817.

With flows through the Strait of Hormuz sharply reduced, IEA warned that demand-side measures will be critical to stabilise prices and protect vulnerable economies, particularly in developing countries.