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FP/wire say Exxon hears NATO mulls Trump rescue scheme

2026-05-20 09:17 ET - In the News

See In the News (C-XOM) Exxon Mobil CDR (CAD Hedged)

The Financial Post reports in its Wednesday edition that NATO is considering assisting ships through the blocked Strait of Hormuz if it remains closed by early July, according to a senior official. A Bloomberg dispatch to the Post reports that while the idea has backing from several NATO members, it lacks unanimous support. NATO leaders will convene in Ankara on July 7 and 8. "The political direction comes first, and then the formal planning happens after that," said Alexus Grynkewich, NATO's supreme allied commander for Europe. "Am I thinking about it? Absolutely." Such a move would shift the military alliance's strategy regarding the U.S.-Israeli war in Iran. Allies have said they will only engage in the strait after fighting stops and a broad coalition, including non-NATO countries, is formed. But economic woes are deepening, with the strait's closure sending energy prices soaring and growth forecasts tumbling. NATO countries' ability to ensure safe passage for commercial vessels through the strait is uncertain. A recent U.S. attempt to achieve this was quickly halted despite strong military capabilities. On Tuesday, U.S. President Donald Trump said that the U.S. may need to strike Iran again.

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