EU Faces €27bn Energy Bill Amid US-Israeli Conflict with Iran, von der Leyen Warns

The European Union is confronting an additional €27 billion energy bill after two months of conflict stemming from the US-Israeli war against Iran, EU Commission President Ursula von der Leyen announced on 29 April.

Speaking to the European Parliament in Strasbourg, von der Leyen highlighted the disruption to oil and gas supplies as the primary cause of the increased costs.

She urged member states to diversify their energy sources to mitigate risks associated with prolonged conflict and potential blockades of the Strait of Hormuz.

Von der Leyen emphasized that this marks the second energy crisis within four years, underscoring the EU's vulnerability due to overreliance on imported fossil fuels.

She called for a reduction in this dependency and advocated for boosting domestic, affordable, and clean energy production, including renewables and nuclear power, while respecting technology neutrality.

Earlier in April, von der Leyen estimated the daily extra cost of the Iran war to the EU's energy bill at €500 million.

EU leaders are concerned about the risk of recession triggered by rising energy prices and broader trade disruptions.

Fertilizer supply has also become a significant pressure point, with Morocco's state-owned fertilizer company OCP seeking to position itself as an alternative supplier to Europe.

OCP is lobbying EU officials to relax regulations on fertilizer imports and is preparing for the commission's upcoming Action Plan on fertilizers.

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