The European Union is forced to pay significantly more for energy resources due to the escalating situation in the Middle East. As stated by European Commission President Ursula von der Leyen during a conversation with journalists in Berlin, since the beginning of the crisis, the EU has spent an additional 27 billion euros on energy purchases without gaining any new energy capacities.
This is reported by Finway
The need to reduce energy dependence
The head of the European Commission emphasized that excessive dependence on imported fossil fuels makes the EU vulnerable to external shocks. She noted the importance of reducing energy dependence and developing domestic energy sources within Europe, particularly cheaper and more environmentally friendly options.
“It is important to realize that our heavy dependence on imported fossil energy makes us vulnerable. One figure (27 billion euros – ed.) illustrates this… These dependencies need to be reduced. Instead, we should develop cheaper energy that we produce here in Europe,” emphasized the head of the European Commission.
European solutions and new technologies
Von der Leyen cited the example of Scandinavian countries, which are actively implementing renewable energy sources and developing nuclear energy. She emphasized that energy produced in Europe is less harmful to the environment, and nuclear energy provides the necessary base load. The official paid special attention to the prospects of new small modular reactors, which could change the energy landscape.
According to von der Leyen, the availability of energy resources is a key factor in supporting Europe’s competitiveness in the global market.
The current situation is complicated by Iran’s blockade of the Strait of Hormuz, through which about 20% of global oil trade passes. This has led to a sharp increase in energy resource prices and a weakening of trust in maritime transport routes.
In response to these challenges, the UK and France have initiated negotiations with more than 30 countries to form a defensive coalition. The goal is to ensure the safety of shipping in the strait and carry out demining operations, which should restore stability in energy resource supplies.