economy
March 5, 2026
European nations facing ‘hell’ over Iran war energy disruption
Serbian President Aleksandar Vucic says European nations are facing “hell” after a US-Israeli war with Iran disrupted energy supplies
TL;DR
- European nations are facing an energy price surge described as a "literal hell" due to a US-Israeli war with Iran.
- The conflict has disrupted crude and LNG shipments through the Strait of Hormuz, a critical maritime route.
- Serbian President Aleksandar Vucic warned of a major crisis for import-dependent European nations.
- Iranian forces have threatened vessels and reportedly struck oil tankers, aiming to increase the cost of the attack for the US and its allies.
- US President Donald Trump announced plans to offer insurance and naval escorts for ships in the Strait of Hormuz.
- European allies are vulnerable due to their rejection of Russian supplies and reliance on LNG imports, with Germany's gas reserves at 27% of capacity.
- Belgrade is preparing fuel subsidies and has significant reserves.
- Thousands of commercial ships are unable to transit the strait due to hostilities.
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