By Joshua Kirby
Leaders of the European Union said they are working with governments in the Middle East to minimize risks to the world's energy security amid attacks on infrastructure and a growing supply crisis.
Ursula von der Leyen and Antonio Costa, respectively president of the EU's executive branch and head of the European Council that brings together leaders of the bloc's member states, on Monday spoke with regional leaders, including representatives of Bahrain, Kuwait, Saudi Arabia and the United Arab Emirates.
"They discussed the impact of attacks on energy infrastructure and the closure of the Strait of Hormuz on global energy security, and explored avenues to strengthen the cooperation with Middle East partners to mitigate these risks," Von der Leyen and Costa said in a joint release.
Refineries in countries including Bahrain and Saudi Arabia have been attacked by Iranian forces in reprisals for American- and Israeli-led attacks that began last weekend. This weekend, air attacks hit energy infrastructure in Tehran, and the Strait of Hormuz, a chokepoint in the vital Persian Gulf shipping route, is largely closed.
Many of the region's authorities have begun to cut oil output in response to the conflict, including those of Iraq and Kuwait, leading to fears of shortages. Crude prices have climbed above $100 a barrel for the first time since the full-scale Russian invasion of Ukraine four years ago, raising the specter of a renewed spike in consumer-price inflation.
The Group of Seven advanced economies is set to discuss options later Monday to deal with the crunch, including the possible release of strategic reserves, according to a French official.
Von der Leyen and Costa said they condemned Iran's attacks on its neighbors, calling them indiscriminate.
"The European Union will work with the countries of the region to bring peace and stability back to the Middle East and the Gulf region," they said.
Write to Joshua Kirby at joshua.kirby@wsj.com; @joshualeokirby
(END) Dow Jones Newswires
03-09-26 1051ET
