Von der Leyen Says EU Lost 90 Billion Euros Due to Strait of Hormuz Situation
European Commission President cites tensions in the key shipping route as a reason for economic losses and calls for greater investment in clean energy.
European Commission President Ursula von der Leyen said the European Union has lost 90 billion euros due to the situation in the Strait of Hormuz, according to TASS.
Von der Leyen said the bloc needs to double its efforts to develop "affordable and homegrown clean energy," TASS reported.
The Strait of Hormuz is a critical global shipping route for oil and gas, and disruptions or tensions in the area have previously been linked to volatility in energy prices worldwide.
TASS did not provide further details on the timeframe or methodology behind the 90 billion euro figure cited by von der Leyen.
The remarks come amid ongoing discussions within the EU about reducing dependence on imported energy and accelerating the transition to renewable sources.
Sources
EGazette summarizes reporting from multiple sources; follow the links for the originals.
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