Scholarly record
THE CONSEQUENCES OF CLOSING THE STRAIT OF HORMUZ ON EU ENERGY SECURITY
Abstract
The world is faced with a difficult energy crisis due to the lackage of fossil fuels, the COVID-19 pandemic, and the effects of the Russia-Ukraine war. The regions where fossil energy resources are found and produced in the world and the regions with high-energy consumption are separated from each other. For this reason, the transportation of energy from the source regions to the regions where the use consumption is done highly brings along cost and energy security problems. The political stance of Iran and regional conflicts are being dictated that together with Hormuz, the Bab-el Mandeb strait will also be another crisis point and geopardise the fuel transportation to Europe. Closing the Strait of Hormuz will put Europe in a more difficult energy situation. The Strait of Hormuz is an important transit point controlling the outflow of the fossil-energy-rich Persian Gulf, located between Iran and Oman (the Arabian Peninsula). In this study, the possible effects of the European Union on energy security in the event of the closure of the Strait of Hormuz because of possible political crises have been examined and strategic approaches have been proposed about what alternative transportation routes and lines should be to meet energy needs.
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