European Commission President Ursula von der Leyen said the European Union’s fossil‑fuel import bill has risen by more than €22 billion in the 44 days since the latest Middle East conflict began.
Speaking in Brussels after a Commission meeting on the economic impact of regional developments, von der Leyen said any future agreement must address concerns over Iran’s nuclear and ballistic‑missile programs as well as actions disrupting maritime traffic in the Strait of Hormuz.
She said the continued closure of the strait is causing “significant damage” and stressed the importance of restoring freedom of navigation. She also warned that Israel’s ongoing strikes in Lebanon risk derailing diplomatic efforts and said stability in the Middle East and Gulf cannot be achieved while the attacks continue.
Von der Leyen said the conflict has sharply increased Europe’s energy costs and that supply disruptions from the Gulf may persist even if hostilities end soon. EU leaders are expected to discuss response measures at a summit next week in Cyprus.
She said the Commission is examining coordinated gas‑storage strategies and the possibility of jointly releasing oil reserves to maximize impact. Measures to protect households and sectors most affected by high prices must be “targeted, rapid and temporary,” she added.
Von der Leyen said the EU is also working on more flexible state‑aid rules to support vulnerable industries and plans to propose changes to the emissions trading system, electricity taxes and grid‑fee regulations in May.
She noted that Europe’s heavy dependence on fossil fuels has left it exposed to repeated crises and said the bloc’s decarbonization strategy is becoming increasingly important. More than 70 percent of Europe’s electricity already comes from renewable and nuclear sources, she said, but large amounts of clean energy remain unused due to insufficient storage, flexibility and grid capacity.