economy
March 4, 2026
Iran war may push EU towards Russian gas
An energy supply shortfall due to the Iran war could revive the EU debate on gas imports from Russia, the Norwegian energy minister has said
TL;DR
- European gas prices have surged due to the US-Israeli campaign against Iran and Tehran's retaliatory strikes.
- Tanker transits through the Strait of Hormuz have been disrupted, and Qatar has halted LNG production.
- Norway's energy minister believes the EU may revive discussions on resuming Russian gas imports.
- Norway is already producing gas at its maximum capacity and cannot supply more.
- The EU aims to ban Russian gas imports by late 2027 but has faced previous energy cost increases.
- A month-long halt in Hormuz shipping could significantly increase European gas prices, impacting households and industry.
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