Europe Predicted to Face Major Problems Due to War in Iran 0 10

European Union countries are on the brink of a large-scale energy crisis, caused by the rejection of Russian liquefied natural gas (LNG) and the war in the Middle East. This is reported by the French publication Le Monde.

The article notes that the global battle for gas has already begun, and Europe is at its forefront. Currently, no cargo ships can pass through the Strait of Hormuz, which is a maritime artery for vessels transporting about 20 percent of the world's LNG.

"The tense situation arose at a moment when the European Union prepared to completely stop purchasing Russian hydrocarbons by the end of 2027," the author of the article added.

Furthermore, the newspaper notes that the main threat of the crisis in Europe is now more related to prices than to gas supplies. Gas prices surged sharply when the conflict in the Middle East began.