French shipping and logistics giant led by Jacques Saadé's successor, shaping global trade networks
The Strait of Hormuz remains largely closed due to Iran-backed attacks, causing a sharp rise in energy prices and prompting countries like Egypt to implement energy-saving measures. Shipping reroutes around South Africa are increasing, risking further economic impacts.
Several vessels, including the first French-owned ship since the war began, have crossed the Strait of Hormuz, which Iran effectively blocked after the start of the Iran-Israel conflict. The crossings include ships from Japan, France, and Oman, signaling some reopening of the vital energy route amid ongoing tensions.
The US has paused its Project Freedom operation to guide stranded ships through the Strait of Hormuz after saying "great progress" has been made in negotiations with Iran and at Pakistan's request. Iran's IRGC has said it will ensure safe transit under new procedures, while tensions and attacks in the strait are continuing to disrupt shipping.
France, under President Macron, has hosted Africa Forward in Nairobi, presenting a roadmap for deeper Franco-African economic ties. The Nairobi Declaration outlines investments, reform of global financial architecture, and higher African voice in international institutions. Macron and Kenyan President Ruto frame the outcome as a shift toward sovereign, mutually beneficial partnerships.