The EU’s losses resulting from the rise in energy prices have reached €127 billion since the beginning of the year, up from €106 billion in mid-October, said European Commission (EC) President Ursula von der Leyen at a technology conference in Brussels, TASS reports.
"Since the closure of the Strait of Hormuz, imported fossil fuels have cost Europe an extra €127 billion, without a single additional molecule of energy" said von der Leyen.
Von der Leyen argued that when the EU imports oil and gas, it risks "importing the shocks and crises that come with them". That is why she maintains that her policy of completely phasing out carbon-based fuels is the right path.
Earlier, von der Leyen cited the European Union’s energy-related losses during an EU summit on October 16, when the figure stood at €106 billion.
The EC President proposed a solution typical for Brussels, urging EU member states to accelerate the transition to alternative energy sources. Von der Leyen reaffirmed the European Commission’s plans to reduce the bloc’s economic carbon emissions to net-zero by 2050, assuring investors in green energy that Brussels will continue its support for the sector.
Last week, European Commissioner for Energy Dan Jorgensen - for the first time in a decade - advocated for an increase in the European Union’s oil refining capacity, amid a diesel crisis across the bloc’s member states. However, he described this measure as "temporary" and maintained that the EU has no intention of revising its long-term plans to phase out oil.
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