Due to the war in Iran and the blockade of the Strait of Hormuz, which have led to increased energy costs, the EU is bearing additional economic costs.
Since the outbreak of the conflict in the Middle East, EU member states have spent an additional 30 billion euros on fossil fuel imports, but have not received any additional supply. The world is facing the most severe energy crisis in history, and this crisis is testing the resilience of the EU's economy, society, and partnerships.
Several Gulf countries' energy production facilities have been hit, and these disruptions will have long-term consequences; the region's natural gas production "may take years to recover.
Even if the Middle East conflict stops today, the EU will still face energy and economic difficulties in the coming months, so the EU should prepare for a "worse" situation.