IEA chief Fatih Birol warns Europe of energy risks from a possible Strait of Hormuz blockade

IEA Director Fatih Birol said that while international fuel supplies remain secure for now, recent attacks on tankers near the Strait of Hormuz highlight Europe’s vulnerability due to its reliance on imported fossil fuels. He warned that a total closure of the strait – which carries about 20 % of global oil and gas – would raise prices sharply and fuel inflation, calling the situation a “wake‑up call” for European refineries and policymakers.

Birol urged the EU to accelerate electrification of its economy, increase renewable and nuclear generation, and invest in grid upgrades so that electricity becomes cheaper than fossil fuels. He reaffirmed that the bloc will ban Russian gas from 2027 and should not consider returning to it.

EU Energy Commissioner Dan Jørgensen echoed the warning, saying Europe must not interpret any cease‑fire in the Middle East as a return to normalcy and emphasised the need for an ambitious electrification strategy by 2040, which could save up to €200 billion in fossil‑fuel imports. The United States is now the EU’s main LNG supplier and is pressuring the European Commission on methane‑monitoring rules.

Key quotations include Birol’s: “The entire world should be prepared for the worst case… we have to electrify our energy, our economy as much as possible,” and Jørgensen’s: “We are in a very serious situation… but we can act and we will act.”