EU nations seek energy alternatives after spending over $113 billion extra since Iran war began

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Mcneil, S. (2026, September 29). EU nations seek energy alternatives after spending over $113 billion extra since Iran war began. Toronto Star. https://www.thestar.com/news/world/europe/eu-nations-seek-energy-alternatives-after-spending-over-113-billion-extra-since-iran-war-began/article_d034d06b-0c6f-5351-9212-9d2bca9b39c9.html

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European Union nations have spent over 100 billion euros ($113.5 billion) extra on energy imports since the start of the conflict with Iran. This surge in costs has led to significant increases in fuel prices, reaching nearly 50% higher in some countries—equivalent to more than $11 per gallon. The closure of the Strait of Hormuz, a critical oil trade route through which one-fifth of global oil shipments typically pass, has exacerbated these price hikes and is driving efforts to find alternative energy sources.

Written by AI on 2026-09-29, from this article's own text only (the story summary below draws on all the coverage).

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Story summary

Since the outbreak of the Iran war, European Union nations have spent over an extra €100 billion ($113.5 billion) on energy imports. The closure of the Strait of Hormuz, through which a fifth of the world's traded oil passed in peacetime, has caused significant price hikes for consumers in some EU countries who now pay nearly 50% more at the pump, equivalent to over $11 per gallon. This crisis is prompting politicians to accelerate their search for alternatives to fossil fuels as prices continue to soar.

Written for “EU Energy Crisis” on 2026-10-31, grounded in this article and the 0 other(s) covering the same event.

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Sam Mcneil

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Claims (2 extracted, 0 hedged)

BRUSSELS (AP) — European Union nations have spent over an extra 100 billion euros ($113.5 billion) on energy imports since the outbreak of the Iran war, pushing politicians to seek alternatives to fossil fuels as prices skyrocket. asserted

prices → spend → fuels

Consumers in some European countries pay nearly 50% more at the pump, equivalent to more than $11 a gallon, following the closure of the Strait of Hormuz, the crucial waterway through which a fifth of the world’s traded oil passed in peacetime. asserted

fifth → pay → peacetime

EU nations seek energy alternatives after spending over $113 billion extra since Iran war began

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