BRUSSELS, April 14– European Commission President Ursula von der Leyen urged European Union (EU) countries to work together to mitigate the financial fallout from the war in West Asia.
“Since the beginning of the conflict 44 days ago, our bill for fossil fuel imports has increased by over €22 billion (US$25.7 billion),” said von der Leyen on Monday, reported German Press Agency (dpa).
“This shows the enormous impact this crisis has on our economy,” she said.
The commission is to present specific measures next week, ahead of an EU leaders’ meeting in Cyprus, including a new strategy on electrification.
“We are paying a very high price for our over-dependency on fossil fuels,” von der Leyen said, calling for a rapid expansion of energy generation in the EU from renewable and nuclear power.
“Electrifying Europe means making Europe more independent, but at the moment we are lagging behind in electrification, compared with the United States and China.”
Turning to short-term measures, she urged capitals to work together and coordinate gas purchases to avoid competing against each other in the market, as well as to release oil stocks.
EU countries are also to be granted greater flexibility on state aid to support households and sectors, particularly those vulnerable to high energy prices, she said.
