Von der Leyen: Stability in the Strait of Hormuz is “Paramount” Amid Rising Energy Costs

European Commission President Ursula von der Leyen has issued a stark warning regarding the economic fallout of the current conflict between the US, Israel, and Iran. Highlighting the fragility of global energy markets, she emphasized that maintaining open trade routes is now a matter of urgent European security.

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The Financial Toll

The conflict, now in its 44th day, has placed a massive strain on the European economy. Von der Leyen revealed that the EU’s expenditure on fossil fuel imports has ballooned by €22 billion (£19.1 billion) since the fighting began—all without an increase in actual supply.

• The “Price of Dependence”: Von der Leyen argued that these costs are a direct result of the EU’s continued reliance on external fossil fuels.
• Stagnant Supply: Despite the massive increase in spending, the volume of energy reaching the EU remains unchanged.

Geopolitical Standoff in the Strait of Hormuz

Central to the crisis is the Strait of Hormuz, a critical chokepoint for global oil and gas shipments. With regional tensions threatening to halt maritime traffic, the President underscored two key priorities:

1. Freedom of Navigation: Labeled as being of “paramount importance” to prevent further global economic destabilization.
2. Robust Coordination: A call for EU member states to align their diplomatic and security efforts to protect trade interests in the region.

“We are paying a very high price for our over-dependence on fossil fuels.” — Ursula von der Leyen, President of the European Commission