The Strait of Hormuz closure has cost Europe an extra $142 billion for the same energy it was already buying

European Commission President Ursula von der Leyen said the Strait of Hormuz closure has cost Europe an extra $142 billion for the same energy it was already buying, speaking at a Brussels startup summit. She tied the figure to her broader argument that importing oil and gas means importing "the shocks and crises that come with them." The disclosure puts a concrete price tag on Europe's exposure to Middle East supply routes and adds weight to Brussels' push for domestic clean energy and diversification. Watch for EU measures on energy security and any shift in import sourcing or stockpiling policy.