The European Commission has reported significant increases in energy prices in the EU due to the ongoing conflict in the Middle East, with plans for measures to mitigate costs.
The President of the European Commission, Ursula von der Leyen, stated that the current conflict in the Middle East has escalated energy prices in the European Union considerably, primarily due to Europe's reliance on fossil fuel imports. In her speech to the European Parliament in Strasbourg, she revealed that since the onset of the conflict, gas prices have soared by 50%, while oil prices have increased by 27%. Von der Leyen highlighted that just 10 days of war have incurred an extra cost of approximately 3 billion euros (about 3.5 billion dollars) for European taxpayers, underscoring the heavy burden of dependency on foreign energy sources.
