Brussels — Leaders from across the European Union are meeting on Thursday to grapple with rising oil and gas prices caused by war in the Middle East, major energy producers and shipping lanes.
Many of those leaders have balked at U.S. President Donald Trump’s plea to send military assets to secure the Strait of Hormuz, a key waterway for the global flow of oil, gas and fertilizers. Rising energy prices and fears of a new refugee crisis due to war in Europe have pushed leaders to make the Middle East a priority at the summit.
“We are very worried about the energy crisis,” Belgian Prime Minister Bart de Wever said ahead of a European Council summit of 27 leaders of European Union nations. Energy prices were very high before the war, but the conflict “created another spike,” he said.
“If that’s constructive, we’re in deep trouble,” he said. “At the European level, some steps can be taken to solve the problem of high energy prices.”
The European Commission told leaders that it has a mix of financial instruments that member states can deploy to lower energy prices, which will come up for discussion. No single policy will work to blunt the economic shocks from war across the bloc’s myriad markets, from Romania to Ireland.
European leaders have struggled to take a firm stand on the conflict in Iran and Lebanon. Although they were critical of the Iranian government, they did not provide military support.
“This is a war launched by the United States and Israel against Iran, because the Iranian regime is brutal not only to its own people, but also to the wider region and is a security threat to Europe,” Dutch Prime Minister Rob Jetten said.
“But this is not a war we are a part of,” he said, calling for more sanctions on Iran and support for opposition groups.
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