Energy shock, the EU considers solidarity use of kerosene reserves | EUROtoday

Listen to the audio model of the article

BRUSSELS – As anticipated on Monday by the President of the European Commission Ursula von der Leyen, the group government intends to current a sequence of measures to counter the power shock brought on by the battle towards Iran by the United States and Israel. In addition to new flexibility in state support, Brussels intends to counsel saving measures, together with teleworking, and above all to map kerosene wants.

The battle within the Persian Gulf not solely brought on a pointy enhance within the worth of oil and fuel. It additionally highlighted the dependence on fossil fuels of some nations and a few sectors, significantly transport. In the communication as a consequence of be offered on Wednesday, on the eve of a European summit in Cyprus, the Commission will reiterate the urgency of continuous in the direction of the environmental transition.

As talked about, the sector most in danger is transport. At the second “there are no fuel shortages in the European Union”, defined group spokesperson Anna-Kaisa Itkonen yesterday. However, he added, “if the situation in the Strait of Hormuz continues, the European Union will prepare to propose possible coordinated measures regarding aviation fuels.” The stance got here earlier than Tehran introduced freedom of transit by the strait.

According to info gathered right here in Brussels, kerosene might be on the middle of the subsequent communication. 40% of aviation gas utilized in Europe is imported from third nations. The Commission ought to due to this fact announce a mapping of European reserves, in addition to EU manufacturing and the origin of imports. It might additionally suggest a joint redistribution of reserves between member nations.

In this context, the Commission also needs to counsel a rise in refining capacities in Europe. Instead, in contrast to what occurred in 2022, on the event of the power shock brought on by the Russian invasion of Ukraine, Brussels doesn’t intend, for now, to suggest a rise in taxation on the earnings of power corporations. However, Mrs von der Leyen introduced a summit with the personal sector to coordinate new investments within the environmental transition.