The European Union (EU) is currently assessing all options including fuel rationing and additional releases from emergency reserves in preparation for a prolonged energy shock following the conflict in the Middle East.
EU Energy Commissioner Dan Jørgensen warned that the crisis is expected to be protracted with energy prices remaining high for a long time, and that the situation for some critical products is expected to worsen in the near future.
Disruptions in the Strait of Hormuz and attacks on energy infrastructure in the Gulf region have triggered major volatility in global markets, causing price spikes and raising concerns about long-term supplies, particularly jet fuel.
While the EU is not yet facing an immediate supply crisis, Brussels is drawing up plans to address the structural and long-term effects of the conflict, including preparing for worst-case scenarios.
Measures being considered include possible rationing of critical fuels such as diesel and jet fuel, although this has not yet been implemented, with a precautionary approach being the priority.
In addition, the EU has not ruled out the possibility of releasing strategic energy reserves again if the situation worsens, after similar steps were taken previously to stabilize market prices.
At the same time, the EU maintains its stance of not changing its policy regarding imports of liquefied natural gas from Russia this year, instead relying on supplies from other trading partners including the United States in an open market environment.
For now, the EU is seen taking a proactive approach by ensuring that all options are available, to manage the risk of an energy crisis that is expected to be prolonged and increasingly challenging.
