The Middle East war costs the Europeans 22 billion euros

European Commission President Ursula von der Leyen urged European Union countries to work together to mitigate the financial repercussions resulting from the war in the Middle East.

“Since the beginning of the conflict 44 days ago, our bill for fossil fuel imports has increased by more than 22 billion euros,” von der Leyen said on Monday.

“This shows the huge impact this crisis has on our economy,” she added.

The Commission will present certain measures next week, before a meeting of bloc leaders in Cyprus, including a new strategy on electricity.

“We are paying a very high price for our over-reliance on fossil fuels,” von der Leyen said, calling for the rapid expansion of renewable and nuclear power generation in the European Union.

She continued, “Electrifying Europe means making Europe more independent, but at the present time we are lagging behind in the issue of electricity after the United States and China, for example.”