Energy inter-dependence outpaces geopolitical issues: UAE diplomats on Europe’s crisis

Energy inter-dependence outpaces geopolitical issues: UAE diplomats on Europe’s crisis

Dubai: Europe’s ongoing energy crisis could impact global alliances, resulting in food insecurity, and have inflationary consequences with the possibility of a mild recession in the region. And all of these developments can lead to potential implications for the Arabian Gulf countries and the future of the international energy market, top diplomats said at a panel discussion organised at the Anwar Gargash Diplomatic Academy (AGDA). The Academy, UAE’s leading diplomatic centre that trains and prepares current and future diplomats, organised the discussion in cooperation with the Embassy of Belgium on Tuesday, January 10. The session covered the European governments’ options for tackling the current high energy prices and the roles that the UAE and other Middle East countries could play as Europe reduces its dependence on Russian energy supplies. Antoine Delcourt, Ambassador of Belgium to the UAE, said, “COVID-19 was hard, and we are now facing another difficulty with the persistent energy crisis, soaring gas and electricity prices and linked inflation. It is difficult for households, SMEs, industry, and society. But, we will overcome this with a mix of short-term decisions and longer-term reforms.” He added, “As Belgian Prime Minister De Croo said, we should use the opportunity that this