SCFR Online – Opinion: The dominant discourse in the field of European energy security over the past two decades has revolved around diversification of supply sources and the gradual reduction of dependence on fossil fuels. This narrative, which gained particular momentum after the Ukraine gas crisis in 2006 and its intensification in 2014 and 2022, was based on the assumption that Europe could free itself from the geopolitical vulnerabilities arising from dependence on specific suppliers through investment in renewable energy, imports of liquefied natural gas from diversified sources, and the establishment of new infrastructure. However, a closer analysis of energy trade data and the structure of the global oil and gas supply chain presents a different picture. Europe has not only failed to meaningfully reduce its dependence on the Persian Gulf, but in some sectors — particularly in liquefied natural gas imports — this dependence has deepened. This reality, which is often overlooked in public discourse, raises fundamental questions about the sustainability of Europe’s energy security strategies and their impact on regional power equations.