The European Union has said it will reassess the bloc’s oil and gas security in the event of a “prolonged closure” of the Strait of Hormuz, a key global shipping route.
Marine traffic through the strategic channel has been restricted since the outbreak of regional conflicts, raising concerns over oil supply and global prices.
In a statement on Monday, the EU said meetings on oil and gas coordination were held yesterday, adding, “In case of a prolonged closure of the Strait of Hormuz or further disruptions, the EU security of oil and gas supply will be reassessed.” The statement also stressed that there are currently no risks to supply security.
Meanwhile, Australia has announced that six days’ worth of petrol and five days’ worth of diesel will be released from its emergency stockpile to mitigate potential shortages.
With inputs from BBC