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Von Der Leyen: Hormuz Closure Cost Europe €127 Billion

Summary by BizToc
European Commission president's remarks come after the US struck Iran’s Qeshm Island on Monday night

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Von der Leyen warns that Europe will "maintain the course" to reduce dependencies following the ravages of the closure of the Strait of Ormuz.

·Madrid, Spain
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Ursula von der Leyen's estimate: "When we import oil and gas, we risk importing even the shocks and crises that accompany them." According to the International energy agency the EU is preparing to face the winter with gas storages at the lowest levels since 2013

·Italy
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He said this at the WinWin Brussels Summit dedicated to startups (ANSA)

·Rome, Italy
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"The import of fossil fuels has cost Europe an additional 127 billion euros since the closure of the Ormous Strait, while the EU has not imported any additional fuel molecule," said the head of the European Commission Ursula von der Layen.

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European Union (EU) Commission President Ursula von der Leyen stated that imported fossil fuels have cost Europe an additional 127 billion euros since the closure of the Strait of Hormuz.

Forbes EspañaForbes España
+2 Reposted by 2 other sources

The president of the European Commission, Ursula von der Leyen, said on Tuesday that the closure of the Strait of Ormuz has increased the number of imports of fossil fuels from the European Union by 127 billion euros, an additional invoice that she has used to warn of the economic cost of the energy dependence of the block and [...] The entry Von der Leyen figure of 127 billion the energy cost of the EU due to the closure of the Strait of Ormuz …

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Quotidiano Nazionale broke the news in Bologna, Italy on Tuesday, November 3, 2026.
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