The President of the European Commission, Ursula von der Leyen, announced on Monday that the effects of the ongoing crisis in the Middle East region are beginning to appear clearly on the European economy, and on the lives of citizens and companies throughout the European Union countries, and stressed that Brussels is working on multiple fronts to address the significant increase in energy prices, supply disruption, and increasing geopolitical risks.
This statement came after an extraordinary meeting held by the European Commission in Brussels, which was devoted to studying the economic, security and energy-related impacts of the current crisis on the European Union, in light of growing fears of continued tension in the region and the expansion of its impact on European markets.
Von der Leyen explained that the current events in the Middle East are no longer just a crisis far from Europe, but rather have become “something that directly affects Europeans,” indicating that their impact is clear in fuel prices, heating bills, and the cost of basic goods, as well as in the increasing pressures on supply chains and economic expectations.
She added that the European Union has incurred significant losses over the past few weeks due to the sharp rise in the cost of importing fossil fuels, as the import bill increased by nearly 22 billion euros in just 44 days, without this being accompanied by any increase in supplies.
Von der Leyen indicated that the Commission will present next week, during the informal European Council expected in Cyprus, a set of practical proposals to deal with the current situation, provided that this package includes greater coordination between member states in the field of energy, targeted support for families and the most vulnerable sectors, and an acceleration of the transition process towards a more independent European energy system.
