The European Union (EU) is considering reviving energy crisis measures that were applied in 2022 to deal with market disruptions caused by the war in Iran. This was announced on March 31 by European Commissioner for Energy Dan Jorgensen after a virtual meeting of EU energy ministers.
“The plans included proposals to reduce electricity tariffs and taxes on electricity,” Jorgensen was quoted as saying by Reuters.
He added that EU countries should be prepared for “prolonged shocks” to energy markets. He named aviation and diesel fuel as the main priorities in the short term.
Since the beginning of the US and Israeli military operation against Iran, gas prices in the European Union have increased by 70%, and oil prices by 60%. The additional costs of the bloc amounted to €14 billion, the European commissioner said. According to him, even if the United States signs peace with Iran in the near future, energy prices will not return to their previous levels, as the region’s infrastructure has been destroyed.
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A shortage of supplies can lead to a price spike of over $1,000.
The representative of the Secretary of the United Nations (UN) Antonio Guterres, Stephane Dujarric, said on March 27 that the association had created a special group whose members would deal with the issue of resuming humanitarian navigation through the blocked Strait of Hormuz. If the water area remains inaccessible to ships in the future, as he added, it may lead to problems of agricultural production.
