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European leaders nervous about fuel prices
European Union leaders are meeting for a two-day summit in Brussels — and the member nations are nervous.
They have been here before, when energy prices skyrocketed after Russia’s wide-scale invasion of Ukraine. This time leaders want to be prepared.
Gas prices are already soaring across the European continent. EU leaders are split on how to deal with the issue.
Some want the European Commission to take responsibility and intervene immediately in the energy markets for short-term cost cuts. Others want the EU to remain focused on longer-term goals such as pushing for renewables with less reliance on fossil fuels and allowing individual leaders to decide how to deal with rising costs for consumers.
French President Emmanuel Macron warned of a “reckless escalation” if Middle Eastern energy infrastructure continues to be attacked, while Kaja Kallas, the EU’s top diplomat, warned that Iran’s attacks on Qatar energy infrastructure create “further chaos.”
On Iran’s blockage of the Strait of Hormuz, Dutch Prime Minister Rob Jetten said the Netherlands is ready to protect European partners. But he said that “at the moment there is no clear indication that there is a proper proposal for a mission,” adding that the situation there is “too volatile.”
Some European nations are already taking action. In Italy, the government has approved a temporary fuel price cut. In Germany, the government is set to approve a law permitting gas stations to increase prices only once a day at midday.
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