00:05Would there be any redistribution between member states, or...?
00:39No, there is currently not jet fuel shortage in Europe, and we have no signs that we will have
00:47shortage in the coming period.
00:50And this is due mostly to the fact that we produce more than 70% of jet fuel in Europe,
00:59the main problem is indeed the price of the jet fuel.
01:05Because at one point it even doubled the price before the war,
01:09now it has de-escalated a little bit.
01:13However, this is a problem for the airlines, and this is why we see
01:17that some airlines are choosing to cancel some of their routes
01:22that didn't make any economic sense before the war even.
01:27And now, of course, with the increase of the jet fuel prices, they choose to stop them.
01:33Look, the situation is very difficult.
01:36It's critical that the war stops and that the Strait of Hormuz opens.
01:42And this needs to happen the soonest possible.
01:48If the situation continues, of course, we should always keep in mind that Europe is prepared.
01:54We have the emergency stocks in our member states.
02:00And if we see that there is a change on the situation that we currently have in Europe, we will
02:06take measures.
02:07But for the time being, there is a certain degree of stability, even though, and I want to repeat this,
02:14we need to all work towards the direction of opening the Strait of Hormuz as soon as possible.
02:21because the implications of having the Strait of Hormuz closed for a prolonged period could be catastrophic for the global
02:33economy.
02:34And it's not only an issue of jet fuels or fuels.
02:38We will have even possibly a global recession if the situation continues.
02:51It means that, if we need some extra Thoughts, we begin.
02:53Deni, national postcas lack of a program that wasn't enjoying.
02:55You know, skating and Cuz
02:55The reported paper were considered a place such as an Beltran North Prince
02:55There are many things that have come true, but not always at least at them.
02:55You
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