Finance
ECB's Vujcic Says Energy Prices Are Still Closest to ECB Basic Scenario
Published by Global Banking & Finance Review®
Posted on April 13, 2026
2 min readLast updated: April 13, 2026
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ECB Vice‑President Boris Vujčić said on April 13 that current energy prices remain aligned with the ECB’s baseline scenario and, thanks to diversified supply, are unlikely to significantly affect inflation or growth.
ECB's Vujcic says energy prices are still closest to ECB basic scenario
Current Energy Prices and ECB's Economic Outlook
(Corrects first paragraph to show that Vujcic is ECB's incoming vice president)
ECB's Incoming Vice President Comments on Energy Prices
April 13 (Reuters) - Current energy prices are still closest to the ECB basic scenario and they should not influence inflation and growth, the European Central Bank's incoming vice president Boris Vujcic said on Monday, N1 regional television reported.
Europe's Energy System Resilience
Vujcic said the Europe's energy system is now more resistant to energy shocks caused by the clashes in the Middle East than it was in 2022, when Russia invaded Ukraine, thanks to the diversification of supplies.
Assessment of Current Scenarios
"We are not in an unfavorable and even less so in a very unfavorable scenario, either with regards to oil or with regards to gas," Vujcic told a financial forum in Croatia. "And that is good news."
Potential Risks from Geopolitical Tensions
Vujcic said that the energy shock is still of weak intensity due to the two-week ceasefire in the U.S.- Iran war but that the market may be hit if the war escalates again.
Reporting Credits
(Reporting by Daria Sito-Sucic; Editing by Toby Chopra)
Key Takeaways
- •Energy prices are tracking the ECB’s baseline projection and thus are not seen as a major inflation or growth risk.
- •Europe’s energy system is now more shock‑resilient than in 2022, owing to diversified supply sources.
- •Though the current energy shock is mild—supported by a U.S.–Iran ceasefire—renewed conflict escalation could impact markets.
Frequently Asked Questions about ECB's Vujcic says energy prices are still closest to ECB basic scenario
1What did ECB vice president Boris Vujcic say about current energy prices?
Vujcic stated that current energy prices are still closest to the ECB's basic scenario and should not influence inflation or economic growth.
2How is Europe's energy system different now compared to 2022?
Europe's energy system is now more resistant to energy shocks due to diversification of supplies since 2022.
3What is the ECB's view on the risk of energy shocks from Middle East conflicts?
The ECB sees the energy shock as weak in intensity at present, mainly due to the two-week ceasefire in the U.S.-Iran war.
4Could an escalation in the U.S.-Iran war affect energy markets?
Yes, Vujcic warned that market impacts could occur if the war escalates, but current scenarios are not unfavorable.
5What does the current scenario mean for oil and gas markets in Europe?
According to Vujcic, Europe is not in an unfavorable scenario regarding oil or gas, which is positive news for the region.
