Following the US and Israeli military strikes against Iran, shipping in the Strait of Hormuz has been repeatedly disrupted, which has a direct impact on global energy supplies. Experts say the situation is increasing uncertainty in the markets and pushing up oil prices.
Slovak Prime Minister Robert Fico responded to the situation on 20 July by warning that Europe was facing serious problems. He warned that a combination of several negative factors could lead to an oil crisis.
According to Fico, the European Union has paid more than EUR 6 billion extra since the attacks began because of rising fuel prices. These costs have been compounded by other pressures - the difficult economic situation in Europe and the extensive support for Ukraine. The prime minister described this combination as an „explosive mix“ that could significantly worsen the stability of the region in the future.
Fico also called on the European Union to urgently seek the resumption of the pipeline's operation Company, which is key to supplying parts of Europe with oil.
According to him, it is necessary to take quick and effective measures, otherwise there is a risk of further price increases and deepening energy insecurity.
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