GENEVA

Belgium’s prime minister on Thursday warned that Europe could face serious economic consequences if rising energy prices triggered by the Middle East conflict become long-term.

"Before the start of the war, prices were too high, and this war has created another spike … if that becomes structural, we are in deep trouble," Bart De Wever said ahead of the European Council meeting.

He called for coordinated European measures to address high energy costs.

Additionally, he stressed that Belgium "has no intentions to get implicated in the war on Iran."

Other EU leaders echoed concerns over "volatility" in energy markets. Irish Prime Minister Micheal Martin said during his doorstep that recent developments had already led to a sharp rise in gas prices, describing the situation as "very serious."

He said governments must respond both in the short term to ease pressure on households and in the medium term to manage broader economic impacts, including inflation. Martin also stressed that "the most effective way" to stabilize the situation is through de-escalation of the conflict.

He warned that attacks on energy infrastructure are “unacceptable” and could have long-term repercussions for global markets.

The Irish prime minister also deemed any further attacks on energy infrastructure in the Middle East as "unacceptable," warning it would have long-term repercussions for the energy market.

Dutch Prime Minister Rob Jetten also emphasized the need for a de-escalation in the Middle East, saying the situation remains "too volatile" for new initiatives, including potential missions in the Strait of Hormuz.

European Parliament President Roberta Metsola, for her part, said in a press briefing that the crisis is already costing Europe billions in higher energy imports, urging investment in storage, reduced dependency, and stronger energy systems.