European Commission President Ursula von der Leyen stated on Monday in Berlin that the European Union has incurred an additional $32 billion in oil and gas import costs since the outbreak of the conflict involving Iran, but insisted that sanctions must remain in place.
Speaking at a press conference, Von der Leyen addressed the severe economic ripples caused by the ongoing military campaign by the U.S. and Israel against Iran, which began in late February 2026. Despite the financial strain on European households and industries, she maintained a firm diplomatic stance toward Tehran.
The Economic Cost of the Conflict
The President revealed for the first time the specific fiscal impact of the energy crisis triggered by the instability in the Strait of Hormuz:
- $32 Billion Surcharge: The amount Europe has paid above market expectations for fossil fuel imports due to supply disruptions and risk premiums.
- Vulnerability: Von der Leyen compared the current situation to 2022, when Russia cut off gas supplies, noting that reliance on imported fossil fuels continues to be Europe’s “Achilles’ heel.”
No Sanctions Relief
Despite Tehran’s recent proposals for a deal to reopen shipping lanes in exchange for sanctions relief, Von der Leyen was dismissive of an immediate breakthrough:
- Human Rights: She emphasized that sanctions are tied to Iran’s “fundamental behavior” and the “suppression of human rights” against its own population.
- Preconditions: “We must first see a fundamental change in Iran… It is too early to lift sanctions,” she commented.
The Strategy for Independence: “Every Kilowatt Counts”
To counter these vulnerabilities, the Commission President outlined a two-pronged strategy for European energy sovereignty:
- Renewable Expansion: Massive investment in wind, solar, and green hydrogen to decouple the EU economy from Middle Eastern and Russian volatility.
- Nuclear Innovation: A renewed focus on Small Modular Reactors (SMRs) to provide a stable, carbon-neutral “baseload” of energy.
“Every kilowatt-hour of energy generated here contributes to economic stability, affordable energy, and thus the independence of Europe,” Von der Leyen stated.
Context: The 2026 Energy Crisis
The war with Iran has significantly impacted global shipping routes, particularly the Strait of Hormuz, through which a fifth of the world’s oil consumption passes. With the U.S. and Israel targeting nuclear infrastructure and the Iranian regime retaliating with maritime blockades, Europe has been forced to scramble for alternative supplies from the U.S., Norway, and North Africa, albeit at a much higher cost.
