Oil & Gas

Italian Foreign Minister Antonio Tajani said Rome’s request was “absolutely legitimate,” expressing confidence that the European Union would respond positively. Italy is seeking the same fiscal flexibility currently allowed for defence spending, arguing that governments need room to support consumers and businesses facing rising energy costs. Tajani said such flexibility could remain in place until market conditions stabilize, including improvements in critical shipping routes such as the Strait of Hormuz, which remains central to global oil and gas trade.

Italy, one of Europe’s most energy import-dependent economies, has been among the countries pushing the EU to adapt fiscal rules in response to repeated energy shocks. Prime Minister Giorgia Meloni warned in a letter to Ursula von der Leyen that Rome could reconsider participation in the EU’s SAFE defence funding scheme if similar financial flexibility is not extended to energy spending. The pressure reflects wider concerns that high fuel and electricity costs could slow economic growth, weaken industrial competitiveness, and increase financial strain on European households.

Reports from Italian media suggest Brussels could deliver a response within days, though any flexibility granted is expected to focus mainly on investment rather than direct subsidies. The discussions underline how energy security has become increasingly tied to economic and geopolitical policy across Europe, as governments seek tools to manage inflation and maintain stability while global energy markets remain exposed to conflict-driven disruptions and supply uncertainty.