EU braces for tough restrictions amid deepening energy crisis
Photo: The EU is preparing for drastic restrictions amid the energy crisis (Getty Images)
The EU is exploring all options, including fuel rationing and releasing more oil from reserves, as it prepares for a prolonged energy crisis stemming from the war in the Middle East, says EU Energy Commissioner Dan Jørgensen.
Dan Jørgensen says this will be a prolonged crisis, and energy prices will remain high for a very long time.
According to him, the de facto closure of the vital waterway of the Strait of Hormuz and attacks on infrastructure in the Persian Gulf have created chaos in energy markets, leading to a sharp rise in prices and raising long-term concerns about supplies.
He adds that the rhetoric and language they were using were now more serious than earlier during the crisis, and that their analysis showed it would be a prolonged situation, meaning countries needed to ensure they had what they needed
Jørgensen emphasizes that while the EU is not yet in a supply chain crisis, Brussels is developing plans to address the structural and long-term consequences of the conflict. Thus, the EU is preparing for worst-case scenarios, including rationing jet fuel and diesel.
Jørgensen also says that he does not rule out another release of strategic energy reserves if the situation becomes even more dire.
Energy crisis is gaining momentum
Due to the war in the Middle East, Europe has begun to face fuel problems: significant price hikes and the introduction of limits at gas stations.
Central Europe has been hit hardest by the crisis. Governments in some countries are trying to curb panic and fuel tourism by imposing strict daily limits.
Germany has approved legislative changes designed to curb the rapid rise in fuel prices caused by the war in Iran.
