Source: European Commission (video statements)
"In just 60 days of conflict, our bill for fossil fuel imports has increased by over EUR 27 billion, without a single molecule of additional energy." – President von der Leyen
On 29 April 2026, European Commission President Ursula von der Leyen participated in the European Parliament plenary debate on the EU strategy in response to the ongoing Middle East crisis, its implications on energy prices and the availability of fertilizers.
In her speech, President von der Leyen announced that the EU would disburse the first €45 billion of its €90 billion loan to Ukraine—with two-thirds earmarked for defence, including a €6 billion drone package—while adopting a 20th sanctions package to hit Russia’s economy. Amid the Middle East crisis, she stressed the need for lasting peace and warned that soaring fossil fuel import costs (€27 billion in 60 days) demand faster electrification and energy independence, proposing targeted aid, EU-wide coordination, and an Electrification Action Plan. To fund future priorities like defence and competitiveness, she urged new EU revenue streams, arguing that without them, Europe risks less funding where it’s needed most—concluding with a call to "electrify Europe" and secure its sovereignty.
For the full transcript of the speech, see here: https://ec.europa.eu/commission/presscorner/detail/en/speech_26_923
Watch on the Audiovisual Portal of the European Commission:
https://audiovisual.ec.europa.eu/en/media/video/I-288526
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