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Europe's Energy Bill Surges USD32B Since Start of Iran War
(MENAFN) Europe has absorbed a staggering €27 billion ($32 billion) in additional oil and gas import costs since the outbreak of the US-Israeli war against Iran, European Commission President Ursula von der Leyen warned Monday, declaring the continent is now grappling with its second major energy crisis in four years.
Addressing reporters at a news conference in Berlin, von der Leyen drew a stark parallel between the current crisis and the energy shock triggered by Russia's actions in 2022.
"In 2022, (Russian President) Putin cut off our gas supply, and now it's the Strait of Hormuz," she told reporters. "Our heavy dependence on imported fossil fuels makes us vulnerable. We must reduce this dependence," she said.
The European Commission chief called on EU member states to extract hard lessons from the deepening crisis, warning that chronic reliance on foreign fossil fuels had left the bloc dangerously exposed to geopolitical shocks beyond its control.
Von der Leyen pressed European nations to urgently accelerate the expansion of domestic renewable energy production and embrace nuclear innovation — including the development of small modular reactors — as twin pillars of long-term energy security.
"Every kilowatt-hour of energy generated here contributes to economic stability, affordable energy, and thus to Europe's independence," she said.
Addressing reporters at a news conference in Berlin, von der Leyen drew a stark parallel between the current crisis and the energy shock triggered by Russia's actions in 2022.
"In 2022, (Russian President) Putin cut off our gas supply, and now it's the Strait of Hormuz," she told reporters. "Our heavy dependence on imported fossil fuels makes us vulnerable. We must reduce this dependence," she said.
The European Commission chief called on EU member states to extract hard lessons from the deepening crisis, warning that chronic reliance on foreign fossil fuels had left the bloc dangerously exposed to geopolitical shocks beyond its control.
Von der Leyen pressed European nations to urgently accelerate the expansion of domestic renewable energy production and embrace nuclear innovation — including the development of small modular reactors — as twin pillars of long-term energy security.
"Every kilowatt-hour of energy generated here contributes to economic stability, affordable energy, and thus to Europe's independence," she said.
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