The only way out of the global energy crisis is de-escalation in the Middle East. This was said by Irish Finance Minister Simon Harris in an interview with Euronews, reports UNN.
Details
According to him, the causes of the turmoil in energy markets are the closure of the Strait of Hormuz and US President Donald Trump's war with Iran, rather than Ukraine's attacks on Russian oil refineries.
The reason the world is experiencing a serious energy crisis now is the closure of the Strait of Hormuz. I have always stressed, and I reiterate today, that the most important economic step we could see would be de-escalation in the Middle East
He argued that this became clear in the summer, when there was a brief lull in the conflict, and we then saw a sharp drop in prices in commodity markets and, consequently, a decrease in fuel prices at filling stations".
Recall
The other day, US President Donald Trump called on Ukraine to stop strikes on Russia's oil-refining infrastructure, saying that they are contributing to the rise in global diesel fuel prices.