EU spends $32B extra on fossil fuels since Iran war

The European Union has spent an additional $32 billion on fossil fuel imports since the Iran War began, according to new data. The International Energy Agency (IEA) is now calling the situation the biggest energy security threat in history. The war has severely disrupted global energy markets and supply chains, forcing major importers to seek alternative, often more expensive, sources. This massive financial outflow highlights the war's profound economic impact beyond the immediate conflict zone.