JAKARTA - European Commission President Ursula von der Leyen said the bloc was working towards a lasting resolution of the Middle East conflict, stressing the need to restore maritime security in the Strait of Hormuz.
In her speech to the European Parliament, von der Leyen said the recent pause in fighting offered an opportunity to advance diplomatic efforts, including maintaining a ceasefire involving Iran and Lebanon.
"Our common goal now is to see a lasting end to the war, and this includes restoring freedom of navigation in full and permanent navigation in the Strait of Hormuz without tolls," von der Leyen said, quoted by ANTARA from Anadolu, Wednesday, April 29.
"It is equally clear that any peace agreement must address Iran's nuclear and ballistic missile programs," he continued.
Von der Leyen said EU leaders had met with regional partners, including Egypt, Lebanon, Syria, and Jordan, as well as the secretary-general of the Gulf Cooperation Council, to coordinate efforts towards de-escalation and stability.
However, he warned the economic impact of the conflict could continue "for months or even years," especially in the energy market, as disruptions to key shipping lanes risked pushing up global prices.
In highlighting the impact, von der Leyen said Europe's bill for fossil fuel imports had risen by more than 27 billion euros ($30 billion) in just 60 days of the conflict, "without a single additional energy molecule."
He said the crisis underlined the EU's vulnerability to fossil fuel imports, and called for an accelerated transition to domestically produced energy.
"We must reduce our excessive dependence on fossil fuel imports, and we must increase the supply of affordable and domestically produced clean energy," he said.
He referred to renewable energy and nuclear power as the main pillars.
Von der Leyen also stressed the need for stronger coordination among EU countries regarding energy reserves and gas storage, as well as targeted assistance for vulnerable households and industries to prevent costly and ineffective policies as in previous energy crises.
He added that electrification and energy efficiency would be key to reducing demand and protecting Europe from future shocks.
In addition, von der Leyen noted that countries with a higher share of low-carbon energy are less affected by price volatility.
The European Commission President also said the EU would present an electrification action plan in the summer, along with broader efforts to modernize energy infrastructure and strengthen economic security.
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