economy
March 20, 2026
We have the largest fuel reserves in the Balkans, says Vučić; Unusual idea from America
The escalating armed conflict in the Middle East is causing great concern worldwide due to a potential global energy supply crisis.
TL;DR
- Attacks on Iranian and Qatari energy facilities have caused global oil and gas prices to spike.
- Israeli PM Netanyahu agreed to a US request to stop attacking Iranian energy infrastructure.
- Iran warns of further action if its energy infrastructure remains a target.
- Serbian President Vučić assured citizens of substantial national fuel reserves and extended export bans.
- The US is considering lifting sanctions on Iranian oil to stabilize global markets.
- The Strait of Hormuz, crucial for oil transport, has been blocked by Iran.
- The G7 countries have released oil from strategic reserves to calm markets.
- European gas prices rose significantly due to the conflict.
- Qatari energy facilities sustained 'major damage' after an Iranian attack.