Von der Leyen says Hormuz conflict added €90bn to EU fossil fuel import bill

September 16, 2026 at 02:04 PM2 min

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European Commission President Ursula von der Leyen said on Tuesday that the conflict in the Strait of Hormuz has added 90 billion euros to the EU's imported fossil fuel bill since it began. Speaking at the annual State of the Union address in Strasbourg, she said Europe received no additional energy in return. She called for faster investment in clean energy sources to reduce dependence on imported fuels.

Key Facts

The conflict in the Strait of Hormuz has added 90 billion euros to the EU's imported fossil fuel bill since it began, according to European Commission President Ursula von der Leyen.
Von der Leyen said Europe received no additional energy in return for the extra cost.
The EU aims to double the share of electricity in total energy consumption by 2040.
Achieving that target could cut Europe's annual fossil fuel import bill by 260 billion euros.
More than 80 gigawatts of renewable energy capacity was installed in Europe last year, with six times that amount still awaiting grid connection.

Hormuz Cost

Von der Leyen told the European Parliament in Strasbourg that the conflict in the Strait of Hormuz has cost the EU an additional 90 billion euros in imported fossil fuels since it began. She said Europe received no extra energy in return for that spending. The European Commission president linked the cost to Europe's structural dependence on imported energy.

Clean Energy Push

Von der Leyen said Europe must accelerate investment in its own clean energy sources, including renewables, nuclear power and biomethane, under the principle of technological neutrality. She said these sources would increase Europe's energy independence and lower prices. The EU aims to double the share of electricity in total energy consumption by 2040. Von der Leyen said achieving that target could reduce Europe's annual fossil fuel import bill by 260 billion euros.

Grid Bottleneck

More than 80 gigawatts of renewable energy capacity was installed in Europe last year, von der Leyen said. She noted that six times that capacity is still waiting to be connected to the electricity grid. Von der Leyen called for faster investment in electricity grids, quicker connection processes and expanded energy storage capacity.