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EU pays extra 100 billion euros for fossil fuel imports amid US-Iran conflict

Original: EU pays extra 100 bln euros for fossil fuel imports amid U.S.-Iran conflict

The European Union has paid an extra 100 billion euros for fossil fuel imports as the conflict between the United States and Iran drives up energy costs. The added expense highlights how geopolitical tensions in the Middle East are raising Europe's energy bill and renewing concerns about the bloc's dependence on imported oil and gas.

Why now: Rising energy costs tied to the US-Iran conflict have direct economic consequences for European households and industry.

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Evidence

• EU pays extra 100 bln euros for fossil fuel imports amid U.S.-Iran conflict · People's Daily Online

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