EU energy chief warns of soaring costs as Middle East conflict strains supplies
05/05/2026 | 21:21:44
Amman, May 5 (Petra) -- European Union Energy Commissioner Dan Jørgensen warned that the bloc is facing rising energy costs as a result of the war in Iran and the ensuing blockade of the Strait of Hormuz, saying the world could be confronting what may be the most severe energy crisis on record.
Jørgensen said in press remarks in Brussels on Tuesday that European Union countries have spent more than 30 billion euros ($35 billion) extra on fossil fuel imports since the outbreak of the Middle East conflict, without receiving any additional supplies.
He stressed that the damage could be long-lasting, noting that gas production in the region "will likely take years to recover," and adding that the bloc "is preparing for potential disruptions to fuel supplies." //Petra// AF