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Europe paid $32B extra for energy amid Iran war disruption: EU

Europe has had to pay $32 billion more for oil and gas imports since the start of the US and Israel’s war against Iran, European Commission chief Ursula von der Leyen said.

Speaking at a news conference in Berlin on Monday, von der Leyen said Europe is experiencing its second serious energy crisis in the last four years, and EU member states have to draw lessons from it.

“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.

Von der Leyen said European countries should expand renewable energy production and explore nuclear innovation, including small modular reactors, to ensure reliable energy.

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