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EU Warns of Rising Energy Costs Linked to Iran Conflict
(MENAFN) European Commission President Ursula von der Leyen said on Monday that Europe has spent an additional €27 billion (around $32 billion) on oil and gas imports since the outbreak of the US and Israel’s conflict with Iran, according to reports.
Speaking at a press conference in Berlin, von der Leyen said the continent is facing what she described as its second major energy crisis in just four years, and stressed that EU member states must take lessons from the situation.
“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.
She added that Europe needs to accelerate investment in renewable energy sources and also consider new nuclear technologies, including small modular reactors, as part of efforts to secure long-term energy stability.
Von der Leyen further emphasized that increasing domestic energy production would play a key role in strengthening economic resilience, keeping energy prices manageable, and enhancing the continent’s overall independence.
Speaking at a press conference in Berlin, von der Leyen said the continent is facing what she described as its second major energy crisis in just four years, and stressed that EU member states must take lessons from the situation.
“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.
She added that Europe needs to accelerate investment in renewable energy sources and also consider new nuclear technologies, including small modular reactors, as part of efforts to secure long-term energy stability.
Von der Leyen further emphasized that increasing domestic energy production would play a key role in strengthening economic resilience, keeping energy prices manageable, and enhancing the continent’s overall independence.
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