economy

April 4, 2026

EU warns of ‘long-lasting’ energy shock, refuses to reverse Russian LNG ban

EU Energy Commissioner Jorgensen warns of “long-lasting” energy crisis and possible fuel rationing due to Iran war, but insists the bloc will not reverse ban on Russian LNG imports

EU warns of ‘long-lasting’ energy shock, refuses to reverse Russian LNG ban

TL;DR

  • EU faces a "long-lasting" energy crisis with higher prices and potential fuel rationing.
  • The crisis is exacerbated by the US-Israeli war on Iran, Strait of Hormuz closure, and strikes on energy infrastructure.
  • EU will not reverse its ban on Russian LNG imports, despite the economic hardships.
  • The EU also plans to outlaw Russian pipeline gas imports by Autumn 2027.
  • Hungary and Russia criticize the EU's sanctions on Russian energy, warning of severe economic impacts.
  • Crude oil prices have risen to around $111 per barrel, and EU gas prices have spiked significantly.

Continue reading the original article

Made withNostr