Iran conflict costs EU extra €90 billion in fossil fuel imports, says Commission chief

The ongoing conflict involving Iran has resulted in an additional €90 billion in fossil fuel import costs for the European Union, European Commission President Ursula von der Leyen said.

The figure highlights the growing financial impact of geopolitical tensions and disruptions to global energy supply chains on the EU. The bloc had already reported a €340 billion fossil fuel import bill in 2025, with fossil fuels still accounting for more than half of its energy consumption.

The additional costs come amid heightened volatility in European energy markets, with gas prices rising to levels not seen since early 2023. Continued tensions in the Middle East could further disrupt energy supplies and increase pressure on European consumers and businesses.

The EU Commission chief has previously said the crisis demonstrates the need to diversify energy supply routes and develop alternatives to the Strait of Hormuz. Following a US-Iran agreement in June, she said the reopening of the waterway was essential for regional stability and the global economy.

Von der Leyen has stressed the need for the EU to accelerate the development of domestic clean energy sources and reduce its dependence on imported fossil fuels.

By Vafa Guliyeva