Europe has about six weeks' worth of jet fuel left if transport through the Strait of Hormuz continues to be blocked, says Fatih Birol, head of the International Energy Agency (IEA).
"This is one of the things we are looking at in detail right now. Jet fuel is often mentioned as the earliest potential problem. It will primarily affect jet fuel prices, of course, and Sweden, as everyone knows, has significant economic muscle to act in such a situation," says Ulf Kristersson.
The crisis could create serious disruptions to air traffic around the world, he continues.
Minister of Finance Elisabeth Svantesson (M) has previously said that rationing of oil may become a possibility in Sweden.
She doesn't rule this out at all, but we're not there yet. What we can say is that every day the war drags on, the risk of such economic consequences increases. We're following this extremely closely, says Kristersson.
