JAKARTA - European Union Climate Commissioner Wopke Hoekstra warned the European bloc must prepare for energy and economic shocks in the coming months, even if the conflict in the Middle East ends today.
"No one can be sure how the future of the economy will take shape, but we are likely to face further turmoil," Hoekstra said, quoted by Sputnik, Tuesday, May 5.
"If you look at the various energy and economic scenarios associated with it, even in the best case scenario - even if the shooting in the Middle East stops completely today - the impact will still be felt for weeks, even months. Therefore, we must really tighten our seat belts and anticipate the possibility of worse situations," he said.
The conflict in the Middle East has been raging since February 28, when the United States and Israel launched an attack on targets in Iran that caused damage and civilian casualties.
The US and Iran then announced a two-week ceasefire on April 7, but further talks in Islamabad ended without an agreement.
US President Donald Trump extended the suspension of attacks to give Iran time to formulate a "unified proposal."
The tensions have nearly halted traffic in the Strait of Hormuz - a vital route for shipping oil and liquefied natural gas from Persian Gulf countries to global markets.
As a result, energy prices have soared sharply, adding pressure on Europe's economy, which is heavily dependent on energy imports from the region.
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