An oil tanker in the Strait of Hormuz.Image: keystone
May 5, 2026, 12:37 p.mMay 5, 2026, 12:38 p.m
According to the European Union’s Energy Commissioner, Dan Jørgensen, the world is confronted with “probably the worst energy crisis of all time”. “Since the outbreak of the conflict in the Middle East, the member states of the European Union have already spent over 30 billion euros more on imports of fossil fuels – without receiving additional deliveries in return,” he said in Brussels.
About a fifth of the world’s oil and liquefied natural gas is normally transported through the Strait of Hormuz. Since the start of the conflict between the United States, Israel and Iran, Tehran has brought shipping through the choke point to a virtual standstill with threats and attacks, while Washington has imposed a naval blockade on ships entering or leaving Iranian ports. In addition, energy production facilities in several Gulf states have been damaged by Iranian attacks in recent months.
Dan Jørgensen assumes that it will take years until gas supplies are back to normal.Image: keystone
EU is also preparing for possible supply shortages
After the war ends, it will probably take years until gas production in the region returns to normal, said Jørgensen. The EU is also preparing for possible supply bottlenecks, particularly for aviation fuel. He referred to the EU’s new observatory, which collects data on existing aviation fuel. The politician said that they also want to recognize if political measures for coordination and redistribution are necessary. “We hope that a situation does not arise where this becomes necessary, but we are preparing for it.”
Most recently, Russia’s attack on Ukraine in 2022 caused an energy crisis in Europe. At that time there were supply bottlenecks and massive price increases. (sda/awp/dpa)