EU energy security at risk amid continued support for 'Israel'

By Al Mayadeen English
Source: Agencies
23 Jan 2024 17:06

The decline is attributed primarily to increasing pressure on ship owners in avoiding the Red Sea, where recent days have witnessed clashes between US and Yemeni forces.

Operators work at Enagas regasification plant, the largest LNG plant in Europe, in Barcelona, Spain, March 29, 2022. (AP)

A recent energy report found that European support for the Israeli-led genocide in Gaza and the subsequent UK-US aggressions on Yemen is having a serious impact on European imports of refined petroleum products in the first half of this month.

Overall, this poses a significant energy security risk for the continent, the report noted.

Kuwait, for instance, a key player in the global oil market, has recently faced substantial setbacks in its gasoline exports to Europe as it witnessed a 43 percent decline, as per a recent report from S&P Global Commodities.

The decline is attributed primarily to increasing pressure on ship owners to avoid the Red Sea, where recent days have witnessed clashes between US and Yemeni forces.

As part of efforts to halt the genocide on the people of Gaza, the Yemeni resistance has since November 2023 been actively engaged in blocking Israeli-linked vessels that are bound to the occupied territories.

"The attack of Yemeni fighters on Israeli ships is a natural reaction to pressure countries that support Israel to stop their support while also demanding a ceasefire in Gaza. If the attack on Yemen continues, the resistance will continue to respond and this could get bigger," strategic expert Khalid Al Sallah commented on the matter.

Due to US-led attacks on Yemen, Europe has suffered a notable impact on its energy imports this month, causing strain on supply chains with delays, higher shipping costs, and potential financial losses for businesses reliant on the Red Sea route.

Europe's unwavering support for "Israel" thus seems to be resulting in severe repercussions for the entire continent.

"The Yemeni fighters target only Israeli vessels and those which are going to Israel. The alternative is taking another route from Ras Al-Raja Al-Saleh. This transfer takes 15 days or more with higher costs. These factors in the short run will cause inflation. Economists warn of a domino effect that could eventually hit European consumers harder than the inflation of 2022, during the Russia-Ukraine conflict. They warn that Europe may face high energy costs and delayed shipments leading to an economic crisis," Mohamad Ramadan, Economic Affairs and Geopolitical Advisor, said.

Europe is faced with serious challenges, including the potential prospect of entering military involvement in the region and jeopardizing its interests in the Persian Gulf and trade connections.

Meanwhile, Yemeni resistance fighters receive acclaim across the Arab region for effective strategies in pressuring "Israel" for a Gaza ceasefire.

As global attention remains focused on developments in the Red Sea, the Yemeni resistance persists in its efforts to force "Israel" into an immediate Gaza ceasefire.