(Bloomberg) — A maritime coalition led by France and the UK is ready to escort tankers through the Strait of Hormuz if Iran agrees to a US proposal to end the war, according to a French official.

France has moved its Charles de Gaulle aircraft carrier to the Red Sea where it will soon be met by vessels from other partner countries, the official told reporters on Wednesday, insisting that the move was meant to signal that the coalition stood ready to secure the strait.

French President Emmanuel Macron has spoken to US counterpart Donald Trump and Iranian President Masoud Pezeshkian, and France maintains its position that it is not a party to the war, the official in Macron’s office added, speaking on condition of anonymity to comply with government rules.

The move comes as Iran weighs a new proposal from the US to end the war, which has been going on for nearly 10 weeks. The offer would lead to the gradual reopening of the Strait of Hormuz and the lifting of the American blockade on Iranian ports.

The reopening of Hormuz is critical for the global oil market and the wider economy. Its effective closure has choked off millions of barrels of supply and driven a surge in prices. US gasoline this week topped $4.50 a gallon for the first time since 2022.

The French offer stands as long as Iran doesn’t target vessels and if shipping companies as well as insurers could be reinsured. The official also urged the US and Iran to separate the issue of maritime circulation in Hormuz from the rest of their negotiations.On Wednesday, Iran’s Islamic Revolutionary Guard Corps said Wednesday that with “new protocols in place, safe, stable passage” through the waterway will be ensured. That came soon after it emerged that the US had proposed a peace deal that Tehran is now considering, but industry executives say that it’s too soon and too unclear for crossings to resume.