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What recent events are influencing the conflict in Iran?
Next, as the war in Iran continues, questions build about when and how it will end. The EU's foreign policy chief, Kaya Khalis, this morning said that threats from Iran could become more dangerous if nuclear experts are not involved in peace talks. This follows comments from President Trump yesterday, who said he was prepared to wait for the best deal to end his conflict with Iran, telling reporters at the White House, I don't want to rush myself. The uncertainty is adding to growing concern around energy prices. The EU Energy Commissioner has said it could be months and maybe years until we see prices drop. With more on this, I'm joined on the line by Alistair Bunkle, Sky News foreign correspondent, and by Matt Frey, Channel 4 presenter and Europe editor.
Good morning to you both. Alistair, I might start with you. Very sobering comments from EU Energy Commissioner Dan Jorgensen, who has warned that holiday flights this summer will very likely be affected.
Yeah, we did an interview with him earlier this week, and he was pretty blunt, wasn't holding back. I think we've seen with some of the airlines, of course, sort of understandably because of their market position, they don't want to scare consumers. But the EU is aware of that. of the risks, particularly if the Strait of Hormuz remains blocked for much longer. The EU as a block imports around 40% of its aviation fuel, of which around half of that comes or would normally come through the Strait of Hormuz. So they know that there is a – well, in the words of Dan Jorgensen, it is already a crisis, a crisis – as big as 1973 and 2001 combined. So in their eyes, it is already very, very bad. But of course, it could get much worse.
And whilst there are stocks generally around Europe and different countries have different levels of stock depending on capacity and where they are. It doesn't take many more weeks for this situation to continue, and those stocks will dwindle. And as we head into the summer holiday season, it could have a real impact on people's ability to fly around Europe.
Yeah, and you were talking, I think, to Italy's Civil Aviation Authority as well.
Yeah. And they were suggesting, think about holidaying at home. Now, some people might say it's OK if you live in Italy. You've got lovely sunshine and you can head down the Amalfi Coast or you can go to Tuscany or to Sicily. But, you know, I think the point they were making was was a serious one. Look upon it possibly, and I think maybe they're sort of getting ahead of themselves slightly, but look upon it as being like the COVID days where travel might be restricted, certainly more expensive. Perhaps flights might even be cancelled, you know, and give some thought to holidaying at home.
Yeah, we have already seen flight cancellations. I mean, Lufthansa cut 20,000 flights from its schedule this week. There's been cuts by Aer Lingus as well. They said that was a maintenance issue. But I presume this is, unless things change, this is probably only the start of it.
Yeah, and again, I think that's Lufthansa getting ahead of the game.
How are energy prices affected by the situation in Iran?
20,000 flights, which... And Lufthansa, for those who don't know, most people will assume it's a German airline, but it's one of the largest airline groups in Europe. So it includes Austrian, Swiss Airlines, Brussels Airlines, for example. So, you know, quite a wide range of coverage. And they've taken the step to cancel 20,000 flights. Some airlines, I think KLM, have cancelled much, much smaller numbers, but still make cancellations. Others are... hiking the prices of their tickets, particularly for long-haul flights to pay for the increased fuel charges. Incidentally, the EU, again, as a sort of a collective, have been paying around
500 million euros more every single day to import fossil fuels over the last six weeks since the iran war started so you know these are kind of these are financial economic impacts yeah i'm looking at the price of a barrel of brent crude it's just over the hundred dollar a barrel mark at the moment and that is a big shock to uh what it was and the eu has announced measures to try and limit the effect of the energy crisis alistair how effective are they likely to be
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