EconomyEU loses €90 billion due to Strait of Hormuz situation, Commission president says
European Commission President Ursula von der Leyen said the conflict around Iran and the situation in the Strait of Hormuz have cost the EU an additional €90 billion in imported fossil fuels without adding any energy supply. She urged the bloc to intensify efforts on affordable, homegrown clean energy and said doubling electricity’s share by 2040 could cut its annual fossil-fuel import bill by €260 billion.
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TASS★★★★☆2026-09-16 08:19Original
EU loses €90 billion due to Strait of Hormuz situation, Commission president says