Middle East conflicts push Europe toward a second energy crisis in five years

Conflicts in the Middle East have pushed fossil fuel costs to historic highs worldwide, raising concerns about the resilience of supply chains. The situation is reminiscent of a similar energy crisis in Europe five years ago.

The ongoing Russian invasion of Ukraine and new tensions in the Middle East have contributed to the surge in energy costs. A top US Treasury Department official, Jonathan Burke, recently visited countries in the region, warning them that continued trade with Iran would cut them off from trading with the US.

The US has imposed significant sanctions on Iran as part of its campaign, which has been effective due to growing distrust between Iran and Gulf Arab states. According to the Jerusalem Post, Burke visited over 50 countries, emphasizing the economic consequences of refusing to cooperate with US sanctions against Iran.

Brief written by urgent.news from El Pais English, Jerusalem Post — 2 reports on this story. Machine-written — may contain errors; check the original before relying on it.