A painful fuel crunch and soaring oil and gas prices triggered by the Iran war have nudged the European Union to look hard into funding alternative energy routes in the Middle East to circumvent hot spots like the Strait of Hormuz.
European Commission President Ursula von der Leyen said Friday that the EU is ready to work with Persian Gulf countries for new projects conveying energy to global markets that wouldn’t be held hostage to war or geopolitical strife.
