Paris, June 15 -- Leaders across Europe and the Indo-Pacific on Monday welcomed the landmark peace agreement between the United States and Iran, describing it as a rare diplomatic opening to restore stability in West Asia, revive freedom of navigation through the Strait of Hormuz, and ease mounting pressure on global energy markets and economic growth and with creating momentum for a lasting resolution of concerns surrounding Tehran's nuclear programme.

They also hailed the steps between Tehran and Washington towards reopening the Strait of Hormuz as an essential factor to the burden of energy prices being felt across global economies.

The statement from the leaders of France, the United Kingdom, Germany and Italy noted that now it is e...