EU Commission: Gas and oil supplies not in danger due to Iran war

The USA remains the largest LNG supplier to Europe and these deliveries are not affected by the situation in the Middle East. Overall, Europe is much broader than it was a few years ago.

The EU oil expert group also met. Here too, according to an EU official, the European Commission does not yet see any direct impact on security of supply, but the indirect impact on prices could be significant. The main concerns are price developments and the duration of the current situation: short-term transport obstacles are relatively easy to overcome, but if the situation persists for a longer period of time, supply risks and higher prices could arise. Currently, 9 percent of crude oil for the EU is transported through the Strait of Hormuz, which is currently de facto closed. 40 percent of EU imports of diesel and aviation fuel pass through this route.