PARIS – France’s energy outlook remains less severe than in other European countries, Finance Minister Roland Lescure said on Wednesday, as global markets react to a sharp disruption in oil and gas supplies linked to escalating geopolitical tensions involving Iran.
Speaking after a cabinet meeting chaired by President Emmanuel Macron, Lescure stressed that France is better prepared and less exposed than many of its European neighbors to the ongoing energy shock.
“France is in a stronger position and remains less vulnerable to the situation compared to other countries in Europe,” he told reporters, pointing to diversified energy sources and lower dependence on external supply routes.
The remarks come as global energy markets face intense pressure following what analysts describe as a de facto closure of the Strait of Hormuz, a critical maritime chokepoint through which roughly 20 million barrels of oil per day typically transit—representing nearly one-fifth of global oil and gas supply.
The disruption has triggered a sharp surge in energy, fertilizer, and petrochemical prices, with ripple effects spreading rapidly across supply chains and industrial sectors worldwide.
Industry leaders have begun warning of broader consequences. Wael Sawan, chief executive of Shell, said earlier this week that energy shortages could begin impacting Europe as early as next month, underscoring the speed at which supply constraints are tightening.
Despite the mounting pressure, French officials maintain that the country’s energy mix and strategic reserves provide a buffer against immediate disruption. However, economists caution that prolonged instability in global supply routes could still weigh on European growth, inflation, and industrial output in the months ahead.
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