Iran war’s effects already a reality in Europe: EU chief

EU chief warns of the war's immediate impact on Europe, with soaring oil prices and rising energy costs amid regional conflict.

The ripples from war in the Middle East are already being felt in Europe, with rising energy prices and NATO allies targeted, EU chief Ursula von der Leyen said Monday (March 9, 2026).

Oil prices soared on Monday (March 9, 2026), peaking just short of $120 a barrel as the U.S.-Israeli war against Iran continued into a second week, with Tehran launching fresh retaliatory strikes in the Gulf.

“We are now seeing a regional conflict with unintended consequences. And the spillover is already a reality today,” the European Commission president told EU ambassadors, ahead of a midday call with Middle Eastern leaders.

“Our citizens are caught in the crossfire. Our partners are being attacked,” she said, citing an Iranian-made drone hitting a British base on EU-member Cyprus, trade disruptions and the “displacement of people”.

While Iran has not officially shut off the Strait of Hormuz — through which a fifth of the world’s crude supplies and a substantial amount of gas run — shipping through the critical waterway has all but dried up.

European gas prices also jumped as much as 30 percent% Monday (March 9, 2026), albeit remaining well below the peaks reached in the aftermath of Russia’s 2022 invasion of Ukraine.