Brussels, May 5, 2026 (Lusa) - Portugal’s finance minister, Joaquim Miranda Sarmento, confirmed in Brussels on Tuesday that any potential disruption to the supply of aviation fuel would have a highly negative impact on the Portuguese economy due to the subsequent collapse in tourism.

“Almost all tourists arriving in Portugal, and in the case of Madeira and the Azores, even 100%, arrive by plane, and therefore, if there is no jet fuel in Europe, even if there is some at Portuguese airports, neither the planes nor the tourists will reach Portugal,” he said.

“If that were to happen, we would face a significant economic shock and would have to respond to it, because we have an economy in which tourism is a very important industry, in terms of revenue and employment," he added.

Regarding potential repercussions in the TAP privatisation process, Miranda Sarmento said that the strategic interests of the two bidders, Air France-KLM and Lufthansa, outweigh the current economic crisis, even if it may last for some time.

The European Commissioner for Energy, Dan Jorgensen, said on Tuesday that the EU is preparing for a possible shortage of jet fuel supplies, although the problem has not yet arisen.

“We are continuing to prepare for a situation in which supply security issues may arise. We have not reached that point yet, but it could happen, particularly regarding jet fuel,” Jorgensen told the press.

The conflict in the Middle East, which began in late February involving the US, Israel and Iran, has increased tension in the energy markets, with disruptions in the Strait of Hormuz, one of the world’s main oil and gas transport routes.

The partial blockade of that waterway has contributed to rising energy prices and greater market volatility.

IG/MYAL // ADB.

Lusa