If the Strait of Hormuz isn’t opened up to oil and gas ship traffic soon, Europe and the wider world face “catastrophic” consequences, Transport Commissioner Apostolos Tzitzikōstas said on Wednesday, while adding there is no sign of crisis just yet.
No mode of transport is exempted by the fuel supply squeeze triggered by the war in Iran, the Greek politician told a press conference in Cyprus, where he participated in an informal summit of EU transport ministers on Wednesday.
But if Tzitzikōstas acknowledged that fuel prices have surged and that “commercial jet fuel stocks are under pressure in certain parts of Europe”, he maintained that there is “no actual evidence” of fuel shortages.
“Europe maintains emergency reserves which can be mobilised if – if, only – it’s necessary,” he said. “For now, the market is absorbing the shock.”
Tzitzikōstas confirmed all the emergency proposals that the EU put forward in its AccelerateEU plan: increased coordination, an observatory on fuel supplies, special guidance for airlines, and the research of alternative suppliers “including jet fuel from the United States of America”.
If the situation gets worse, the EU executive is ready to temporarily tweak its own rules, he said.
“The blockade of the Strait of Hormuz is a stark reminder of why we must accelerate the transition to alternative fuels,” he said. “The European Union has to become energy independent.”
(jp)
