Kallas Announced Europe's Independence from Oil Supplies from the Middle East 0 11

The European Union is not dependent on oil supplies from the Persian Gulf countries and is not experiencing a fuel shortage, so there is no reason for panic at this time.

According to her, the escalation in the Middle East, in which the export of raw materials began to be halted following Iran's response to attacks from the U.S. and Israel, has not had a direct impact on EU countries. At the same time, Kallas noted that rising prices will have a "broader impact." The official stated that Europeans are currently strengthening their naval presence in the region, aiming to ensure safe and free maritime trade.

Oil prices accelerated their rise after statements from Tehran regarding the closure of the Strait of Hormuz, through which significant volumes of hydrocarbons are exported. These are primarily supplied to Asian countries, which has already affected the quotes on Far Eastern exchanges.

U.S. President Donald Trump's statements about the intention to make the cost of insurance guarantees for energy exports from the Persian Gulf available and the possibility of naval escort for tankers were considered by industry representatives as not fully resolving the issue, as the careful implementation of these proposals will require time, which, as noted by the latter, "is not available for either producers or consumers."