MOSCOW, Mar 31: The conflict in the Middle East has cost the European union 13 billion euros ($14.9 billion) in additional energy import bills, Euractiv reported citing a classified diplomatic document.
“28 days of conflict have already added 13 billion to the Union’s fossil fuels import bill,” says the document, which was sent by Brussels to EU countries ahead of the online meeting of energy ministers scheduled for Tuesday.
The US and Israel began striking targets in Iran on February 28. Iran is retaliating with strikes on Israeli territory, as well as on US military targets in the Middle East. Meanwhile, shipping through the Strait of Hormuz – a key route for supplying oil and liquefied natural gas from the Persian Gulf countries to global markets – has effectively ground to a halt. As a result, fuel prices are rising in most countries.
This conflict has triggered a significant rise in energy prices in EU countries, which are simultaneously preparing to stop importing Russian gas and oil (UNI)
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