“We’ve been calling for a de-escalation for some time,” the Prime Minister told Sky News on Wednesday.
“We want to see a resolution of the conflict.”
He went on to criticise US President Donald Trump’s threats to Iran’s civilian infrastructure “extraordinary”, and said the “impact that would have arisen from an escalation within Iranian response would have led to greater global economic damage”.
“We’re already seeing a substantial impact of a war which is on the other side of the world, but is having an impact on Australians here like it is on citizens throughout the world,” Mr Albanese said.
“This is very positive, and we hope that it leads to a permanent de-escalation and an end to the conflict and a resolution that allows the world to go forward, because this is having a big impact on ordinary citizens in Australia.”
Prime Minister Anthony Albanese has welcomed the Middle East breakthrough. Picture: NewsWire / Martin Ollman.
Earlier, Iran’s chief diplomat promised “safe passage through the Strait of Hormuz” for two weeks after US President Donald Trump declared an eleventh-hour “double-sided ceasefire” with the Islamist regime.
Iran effectively blockaded the strait in response to US and Israeli strikes, cutting a fifth of the world’s oil supply and driving up fuel prices to historic highs.
Praising Pakistani mediation efforts, Iranian Foreign Minister Seyed Abbas Araghchi said on Wednesday (AEST) that Tehran was considering a 15-point peace plan put forward by the Trump administration.
“If the attacks against Iran are halted, our Powerful Armed Forces will cease their defensive operations,” Mr Araghchi said in a statement.
“For a period of two weeks, safe passage through the Strait of Hormuz will be possible via co-ordination with Iran’s Armed Forces and with due consideration of technical limitations.”
US President Donald Trump has announced a ‘double-sided ceasefire’ with Iran. Picture: Jim Watson / AFP
It came after Mr Trump announced on social media that he would “hold off the destructive force being sent tonight to Iran”.
“I agree to suspend the bombing and attack of Iran for a period of two weeks,” he wrote.
“This will be a double sided CEASEFIRE! The reason for doing so is that we have already met and exceeded all Military objectives, and are very far along with a definitive Agreement concerning Longterm PEACE with Iran, and PEACE in the Middle East.”
He added that the US had “received a 10 point proposal from Iran, and believe it is a workable basis on which to negotiate”.
“Almost all of the various points of past contention have been agreed to between the United States and Iran, but a two week period will allow the Agreement to be finalized and consummated,” he said.
“On behalf of the United States of America, as President, and also representing the Countries of the Middle East, it is an Honor to have this Longterm problem close to resolution.”
Mr Trump had earlier warned a “whole civilization will die tonight, never to be brought back again”.
Oil prices have plunged following the comments, with the international benchmark Brent Crude down 15 per cent to US$92.21 per barrel Wednesday morning.
West Texas crude, the US standard, was down more than 16 per cent to US$94.47 per barrel.
Energy Minister Chris Bowen on Wednesday said Australia’s fuel reserves had stayed “pretty static”, meaning that while petrol and diesel was “going out the door at a rapid rate” it was also coming into Australia also.
With temporary relief through the fuel excise on petrol and diesel already accounted for in the budget for the next three months, NRMA spokesperson Peter Khoury says the “expectation is it will continue.”
Mr Khoury also said that NRMA will be “watching carefully” to make sure those reliefs are “passed on at full”.
In NSW, 124 service stations were without diesel, or about five per cent.
Only 27 were without any petrol, down seven stations from Tuesday.
In Victoria, 40 stations were without diesel, while 28 had no unleaded.
Further north, 30 stations in Queensland had no diesel, and 25 had no unleaded petrol.
South Australia reported four stations without diesel and two without unleaded, Western Australia eight without diesel and 21 without unleaded, and Tasmania seven without diesel and five without unleaded.
In the territories, the Northern Territory reported four stations without diesel and four without unleaded, while four were without diesel in the ACT.
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