EU nations seek energy alternatives after spending over $113 billion extra since Iran war began
Ministers want faster electrification and new grid links as the bloc gets no extra oil or gas despite higher import spending, officials said.
- European Union energy ministers gathered in Dublin to address soaring costs, as member nations have spent over 100 billion euros on energy imports since the outbreak of the Iran war.
- Following the closure of the Strait of Hormuz, consumers in some European countries pay nearly 50% more at the pump, equivalent to more than $11 a gallon, disrupting global oil supplies.
- Republicans in key states have called for a ban on diesel exports, casting doubt on President Donald Trump's 2025 deal to sell $750 billion worth of energy to Europe, which relies on imports for about 50% of its diesel supply.
- European Union energy commissioner Dan sent "a very clear signal" to authorities to scrap the ban while urging European ministers to replace imported fossil fuels with homegrown energy sources.
- Finnish environment minister Sari Multala pointed to her country as an energy independence model, where nuclear reactors, turbines, peat bogs, and hydropower dams provide 95% of Finland's electricity at "very reasonable prices.
52 Articles
52 Articles
Reliance on imported energy leaves bloc vulnerable to global price increases, Jorgensen warns
The rise in energy prices caused by the war in Iran has cost consumers in the European Union more than EUR 100 billion. The figure was presented on Tuesday by the European Commissioner for Energy, Dan Jorgensen, at a meeting of EU energy ministers in Dublin.
EU fuel costs increased by €100 billion due to the Middle East crisis
According to British press estimates, the additional costs to EU countries caused by rising fuel prices following the start of an armed confrontation with Iran by the US and Israel have already exceeded 100 billion euros.On the eve of the EU...
According to the British press, the extra costs incurred by the EU countries as a result of the rise in fuel prices since the start of the United States and Israel's armed confrontation with Iran have already exceeded 100 billion euros.
Aftenposten
– This shows how bad it is, says the EU top official.
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