Von der Leyen, 'the closure of Hormuz cost the EU an extra 127 billion'

"Since the closure of the Strait of Hormuz, imports of fossil fuels have cost Europe 127 billion euros more, without a single additional quantity of energy. One hundred and twenty-seven billion just because of the closure of the Strait of Hormuz." This was highlighted by the President of the European Commission, Ursula von der Leyen, speaking at the WinWin Brussels Summit dedicated to startups.

“When we import oil and gas, we risk also importing the shocks and crises that accompany them,” von der Leyen noted.