France, March 19 -- Thursday's meeting comes against the backdrop of escalating tensions in the Middle East, where the conflict around Iran has pushed up global energy prices and stoked fears in Europe of another refugee crisis.

While US President Donald Trump has urged allies to deploy military assets to secure the Strait of Hormuz, many European capitals have resisted those calls, wary of being drawn deeper into the conflict.

Instead, leaders are expected to focus on shielding their economies from the fallout. The European Commission has proposed a "toolbox" of measures to curb energy costs, acknowledging that no single fix will work across the bloc's 27 diverse markets.

Diplomats say the aim is to soften the shock for households and...