The EU Has Additionally Spent About 90 Billion Euros on Energy Imports Due to the Conflict over Hormuz, Von Der Leyen Said
20 Articles
20 Articles
The EU's efforts in the area of energy diversification, investment in renewable sources and nuclear power have been affected by the crisis in the Strait of Ormuz, which cost Europe 90 billion euros extra for energy, the Chairman of the European Commission (EC), Ursula von der Lien, said.
The head of the European Commission, Ursula von der Lien, announced Europe's huge unexpected expenditure on hydrocarbon imports due to tensions in the Middle East. The European Union's extra spending on fossil fuels since the start of the situation around the Ormuz Strait has reached 90 billion euros, transmitting the RIA News. "The import of fossil fuels has cost us an additional 90 billion euros since the outbreak of the conflict in the Ormuz …
European Union (EU) Commission President Ursula von der Leyen said the Union has paid an additional 90 billion euros for imported fossil fuels since the start of the crisis in the Strait of Hormuz.
<p>The European Union is concerned about rising energy prices, so it wants to ensure that the support provided does not affect fiscal sustainability.</p>
The Strait of Hormuz Crisis Has Cost the EU Dearly! An Additional €90 Billion Bill for Fossil Fuels.
European Commission President Ursula von der Leyen announced that they have paid an extra 90 billion euros for imported fossil fuels since the start of the crisis in the Strait of Hormuz. Stating that they will accelerate investments in clean energy to reduce dependence on foreign energy sources, Von der Leyen announced that they aim to double the share of electricity in their energy mix by 2040, thereby reducing the annual fossil fuel import bi…
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