European Union prepares emergency measures to face energy crisis

Moscow (ANTARA) - The European Union (EU) is evaluating all possibilities to address the energy crisis, including restrictions on fuel distribution and additional releases of oil from emergency reserves, in order to mitigate the impact of the conflict in the Middle East.

EU Energy Commissioner Dan Jorgensen said on Friday (3/4) to the Financial Times that the EU is also considering fuel rationing to deal with potential prolonged energy shocks.

The EU is drawing up plans to address the structural and long-term consequences of the conflict.

According to Jorgensen, those steps include “preparing for the worst-case scenario,” although the economic bloc has not yet reached the stage of needing to ration vital products such as aviation fuel (avtur) or diesel.

When asked about the possibility of relaxing avtur rules to increase imports from the US or raising the ethanol portion in fuel, Jorgensen stated that they have not yet reached the stage of changing existing rules.

“We are considering all possibilities, and the more serious the situation becomes, the more we need to consider using legislative instruments,” he said.

On 28 February, the United States and Israel launched attacks on targets in Iran, including in Tehran, causing damage and killing civilians.

Iran then retaliated by attacking Israeli territory as well as US military facilities in the Middle East.

The escalation of conflict in the region has caused a de facto blockade of the Strait of Hormuz, the main shipping route for oil and liquefied natural gas from Gulf countries to global markets.

The situation has also affected oil exports and production in Gulf countries and is driving up global energy prices.