Von der Leyen: Middle East Crisis Has Cost the EU 22 Billion Euros in 44 Days
European Commission President Ursula von der Leyen said the closure of the Strait of Hormuz has increased the EU's fossil fuel import bill by over 22 billion euros in 44 days, announcing emergency energy measures and calling for restored freedom of navigation.
European Commission President Ursula von der Leyen put a price on the Middle East crisis for Europe: 22 billion euros in additional fossil fuel costs over 44 days, with nothing to show for it.
"Since the beginning of the conflict -- 44 days ago --, our bill for fossil fuel imports has increased by over 22 billion euro. Forty-four days, 22 billion euro -- not a single molecule of energy in addition."
The statement, delivered April 13 following an orientation debate at the College of Commissioners, marks the EU's most explicit acknowledgment of the economic damage caused by the ongoing Strait of Hormuz closure.
The Strait
Von der Leyen called the continued closure of the Strait of Hormuz an "absolute necessity" for the EU to address: "The continued closure of the Strait of Hormuz is causing significant damage to the global economy and supply chains. Restoring freedom of navigation through it is an absolute necessity for us in the European Union."
The strait, through which roughly 20% of the world's oil passes, has been disrupted since the escalation of hostilities between the U.S. and Iran. Crude oil prices have surged from around $84 per barrel in early March to over $114 -- a 36% increase that is now flowing directly into European energy bills.
Emergency Measures
Von der Leyen announced six immediate responses:
- EU-wide gas storage coordination to prevent member states from bidding against each other for supply
- Coordinated oil stock releases across the bloc
- Targeted, temporary support for vulnerable households and sectors
- A new temporary State aid framework, to be adopted in April, giving governments more flexibility to cushion the impact
- Energy price legislative proposals, to be published April 22 and discussed at an informal European Council summit in Cyprus the following week
- An electrification strategy before summer, plus a Grids package to upgrade infrastructure
The Strategic Argument
Von der Leyen framed the crisis as validation of the EU's decarbonization strategy, not a reason to reverse it.
"The only lasting way out of the fossil dependency is to modernise by shifting electricity generation to renewables and nuclear," she said, noting that renewables and nuclear already represent over 70% of EU electricity generation.
"Our strategy to decarbonise has not only been confirmed in the last years but is growing in importance day by day."
She also addressed the broader regional situation, saying: "The desired stability in the region cannot be achieved while Lebanon continues to be bombed."
Context
The 22 billion euro figure averages to 500 million euros per day in additional energy costs -- money flowing out of Europe to fossil fuel producers with no corresponding increase in supply. For comparison, the EU's entire annual defense spending increase proposed for 2026 was 200 billion euros over four years, or roughly 137 million euros per day.
The statement comes as EU leaders prepare for the informal summit in Cyprus, where energy prices and the Middle East response are expected to dominate the agenda.