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The EU faces energy price volatility due to dependence on fossil fuel imports and the current situation in the Strait of Hormuz.
The European Commission (EC) is looking for ways out of the fuel crisis and is trying to resolve the issues of rising prices and energy shortages. The fact that Europe is thinking about relaxing fuel quality standards due to supply disruptions was stated by EC official representative Anna-Kaisa Itkonen, Interfax reports.
According to Itkonen, energy prices remain unstable as long as the European Union (EU) depends on fossil fuel imports. Now the association is faced with a crisis due to the situation in the Strait of Hormuz.
“Back then the crisis was concentrated mainly in Europe. In fact, we fought the fossil fuel crisis in Europe. And now we are seeing a different situation that requires different response measures. We are seeing a global crisis in fossil fuel prices,” she explained.

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