# Eni CEO Claudio Descalzi: War in Iran and potential closure of the Strait of Hormuz represent "the most significant event of the last 40 years.

*business · news · 2026-04-13 · MarketScreener*

## Key points

- Eni CEO proposes suspending the EU ban on Russian LNG if the Strait of Hormuz closes.
- Europe faces critical shortages in jet fuel and diesel due to refinery closures and import reliance.
- Diesel shortages have already caused 600 Eni service stations to run out last weekend.
- Physical oil prices in Asia have reached $150 per barrel, far exceeding WTI futures prices.
- A prolonged conflict could force economic recession as the only way to rebalance oil supply and demand.

**Companies:** Eni
**Countries:** Iran, Italy, Russia, Qatar, Angola, Nigeria, Congo, China, United States

[Read the full story on MarketScreener](https://www.marketscreener.com/news/eni-ceo-descalzi-urges-eu-to-halt-ban-on-russian-gas-ce7e50d9d189f625)

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