US-Iran war adds €100bn to EU’s fuel bill
Warning comes as the bloc’s energy ministers meet in Dublin
Source: Financial Times
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DW NOTE
The EU imported 8.7 million barrels per day from the Gulf before the strait closed. At $100 per barrel and current exchange rates, that's €800 million daily — €292 billion annualized. So €100 billion is what they're paying above the counterfactual where this didn't happen. That's the bill for not having built the nuclear capacity or LNG terminals they spent a decade deferring.