Sánchez Says Iran War Has Cost Europeans an Extra €100 Billion in Fuel
Spain’s Pedro Sánchez says the Iran war and Hormuz tensions have cost Europeans an extra €100 billion in fuel prices this year. The figure matches the Commission’s estimate.
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Spanish PM Pedro Sánchez says the Iran war has cost Europeans an extra €100 billion in fuel prices this year. He calls it “the price Europe has to pay,” and says the rest of the world pays too.
He spoke in Spanish on Monday, Nov. 2, at the World in Progress forum in Barcelona, Pamplona Actual reported. Clash Report posted the video with an English translation.
What Sánchez Said
He says “this illegal war” and “tensions in the Strait of Hormuz” illustrate “the price Europe has to pay.” He adds that the world pays too, “particularly the Global South.”
He says poorer regions lack Europe’s resources. Then he gives the figure. “So far this year, this war has cost Europeans an additional €100 billion because of rising fuel prices.”
The same report says he put the sum at no less than double the EU’s annual farm budget. He also defended a stronger EU against the far right. He warned the Popular Party over its pacts with Vox, Pamplona Actual wrote.
Where the €100 Billion Comes From
The figure matches the European Commission’s own estimate. On Oct. 6, Ursula von der Leyen told Parliament that fossil fuel imports cost Europe an extra €100 billion. ANSA reported her remarks.
She said costs could worsen as winter nears and announced a task force to pool EU energy demand. Her speech text is on the EU newsroom.
Sánchez has used the number since at least Oct. 1, the Moncloa press office shows. On Oct. 16 he posted that the war has cost Europeans “more than 100,000 million euros,” Middle East Eye reported.
German Chancellor Friedrich Merz made a similar claim on Oct. 30. See our report on Merz’s warning.
One caveat: the Commission’s number is the extra import bill for fossil fuels. Sánchez describes it as the cost of rising fuel prices. It is an estimate, not an audited total.
Spain’s Stance on the War
Madrid has opposed the war since the first bombs fell on Iran on February 28. Sánchez calls it illegal. He told Congress on March 25 that Spain denied the U.S. its Rota and Morón bases, the official transcript shows.
He said that included refuelling flights. He also said Spain evacuated 8,000 citizens from Iran and the Gulf.
At home, Spain cut VAT on fuel and electricity from 21 to 10 percent in March. The package was worth more than €5 billion, the government said.
In October, Congress ratified a larger shield of more than €12 billion, Sánchez said on X. He says Spain was the first to speak out against the war at the EU Foreign Affairs Council.
Where Hormuz and Prices Stand
Since the war broke out, Iran has claimed control of Hormuz and regularly targets ships that cross without its approval. The U.S. has blockaded Iranian ports, Euronews reported.
On Monday Iran said it could reopen the strait within two days if Washington meets its conditions. Those include ending the war on all fronts and lifting oil sanctions. Everything “depends” on the U.S., a spokesman said.
Brent crude traded near $112 a barrel on Monday after ending October at a six-month high, CNBC reported. An analyst there warned that rhetoric after the U.S. midterms could push it toward $120.
Tankers remain under attack in the strait. For background, see how Iran changed its Hormuz tactics.
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