The Brief – What energy crisis?

Europe is in the grip of the ‘biggest energy crisis ever’, with concern rising about the cost of fuel and doubts over the holiday season so vital to many economies. Still, an ‘informal’ ministerial summit held in Cyprus on Wednesday saw limited participation from the bloc’s energy ministers – even as the Commission unveiled its ‘targeted, timely and temporary’ interventions.

The EU executive has tried to assuage fears that the summer will be beset with flight cancellations, dealing a major blow to Europe’s tourism sector. Transport commissioner Apostolos Tzitzikostas said in April that “there is no safer, more stable and more beautiful place to visit than Europe this summer”.

But the assurances appear increasingly unconvincing as the blockade of the Strait of Hormuz continues.

The meeting in Nicosia also saw renewed calls to massively ramp up European gas production, as eastern Mediterranean countries argued that the energy crisis makes exploiting their…