The events in Ukraine could soon lead to a global energy crisis, the head of the Paris-based International Energy Agency, Fatih Birol, said at a meeting of energy and climate ministers on Wednesday.
“Given Russia’s role in the global energy system, this humanitarian crisis could be followed by an energy one,” he said, noting that it is now crucial to determine what measures the global community can take to avoid this.
“This situation confirms the need to ensure international energy security.”
The global energy watchdog announced last week it had developed a 10-step plan aimed at reducing global oil demand by 2.7 million barrels per day within four months. The organization proposes reducing the speed limit on highways by 10kph, banning the use of cars on Sundays, reducing public transport tariffs, stimulating car-sharing, expanding remote work to three days a week, and promoting the use of high-speed and night trains instead of flights, as well as the broader use of electric vehicles.