Maia Sandu convenes Tuesday’s CNS meeting to assess risks to the country’s energy security
President Maia Sandu will hold a meeting of the National Security Council on Tuesday, May 26, at 2:00 p.m. This meeting is convened due to risks arising from changes in international energy markets and escalating tensions in the Middle East.
The Presidency announced that members of the National Security Council (CNS) will evaluate the impact of recent developments on the Republic of Moldova, as well as the measures taken to protect citizens and the economy.
We remind you that the conflict between the United States and Israel on one side and Iran on the other began on February 28 this year, with the objective of dismantling Tehran's nuclear capabilities. This escalation has resulted in a blockade of the Strait of Hormuz, which is the primary maritime route for nearly 20% of global oil consumption. As a result, exports of energy resources have come to a complete halt.
This situation caused an immediate shock to financial markets, leading to a sharp surge in crude oil prices on international exchanges.
The rapid rise in fuel prices has triggered a domino effect, leading to significant increases in food prices and transport tariffs globally, thereby severely disrupting international supply chains. In addition to the rise in gasoline and diesel prices, Europe is experiencing a critical shortage of kerosene, with stock levels at major airports plummeting to alarmingly low levels.
In the Republic of Moldova, the price of diesel fuel rose from 20.72 lei on February 28 to between 34.98 lei and 35.98 lei from April 5 to 9. Meanwhile, the price of gasoline increased from 23.75 lei at the onset of the conflict to 31.53 lei today.
