Swedish Prime Minister Ulf Kristersson warned in press statements on Thursday, April 23, 2026, that his country's economy and the European Union would be significantly affected by the escalating conflict in the Middle East. Kristersson affirmed that the continued closure of the Strait of Hormuz and instability in the region constitute a direct threat to European energy security and global market stability.

The Swedish Prime Minister explained that his country relies heavily on energy imports, and that any disruption in oil and natural gas supplies from the Gulf region would lead to sharp price increases and high inflation. Kristersson called on European countries to accelerate efforts to transition toward renewable energy sources and diversify import sources to reduce dependence on the Middle East region. He also emphasized the need for intensive diplomatic work to reduce tensions and find peaceful solutions to the current crisis.

The European Commission expressed its deep concern about the repercussions of the crisis, noting that the Union is studying a comprehensive emergency plan to ensure continued energy supplies in the coming months. Several major European countries called for an emergency summit to discuss the crisis and coordinate joint positions. In the same context, the International Monetary Fund warned that the continuation of the current situation could lead to a global economic recession if the military escalation in the region is not controlled.