Europe Faces Additional €100 Billion Cost for Fossil Fuel Imports Amidst War Against Iran

According to the International Desk of Webangah News Agency, European Commission President Ursula von der Leyen stated in a speech to the European Parliament that the European Union will not abandon its plans to cease Russian gas consumption. She emphasized that four years ago, Russia attempted to pressure the EU with gas, with 45% of imports coming from Russia. This supply was halted almost overnight, and Europe emerged stronger from the situation.

Von der Leyen added that the EU has diversified its gas supply sources and significantly accelerated investment in its domestic clean energy. The President of the European Commission pledged that Russian gas imports have decreased from 45% to 12% and will be reduced to zero by the end of next year.

She highlighted that since late February, gas prices have risen by 140%, and diesel fuel prices have doubled. In total, fossil fuel imports have imposed an additional €100 billion cost on Europe since the war against Iran began, despite no additional energy carriers entering the market. The politician expressed confidence that the European Union will emerge from this crisis stronger than before.