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EU leaders hunt for quick fixes to energy price spike amid Iran war
EU leaders demand immediate targeted measures from the European Commission to address a 60% surge in gas prices caused by the Iran war and supply disruptions.
- On Thursday, European Union leaders gathered in Brussels to seek urgent fixes for surging energy prices triggered by the war in Iran, instructing the European Commission to act swiftly.
- European gas prices have increased by more than 60% since the war began on February 28, 2026, after the closure of the Strait of Hormuz disrupted 20% of global oil and liquefied natural gas supplies.
- Leaders remain divided over potential fixes, debating emissions trading system adjustments and tax cuts, with some demanding free CO2 permits for industry while others oppose weakening climate policy.
- Draft conclusions instruct the Commission to "present without delay a toolbox of targeted temporary measures to address the recent spikes in the prices of imported fossil fuels," though officials warn impacts will remain limited while the Strait of Hormuz stays closed.
- Prioritizing long-term decarbonization, the bloc continues competitiveness plans including the "EU Inc" initiative, as Lithuanian Energy Minister Zygimantas Vaiciunas warned, "There is no single instrument or silver bullet that would easily cope with this challenge.
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Today, European government leaders are meeting in Brussels to draw up an action plan, a month after the summit in Alden Biesen in Limburg, where they brainstormed on strengthening the European economy. That action plan is indeed on the table, but it is completely overshadowed by the war the US and Israel have started against Iran, and the high energy prices resulting from it. And a blazing row with Hungarian Prime Minister Viktor Orbán is loomin…
·Antwerp, Belgium
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Coverage Details
Total News Sources8
Leaning Left4Leaning Right0Center2Last UpdatedBias Distribution67% Left
Bias Distribution
- 67% of the sources lean Left
67% Left
L 67%
C 33%
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