The key facts

  • EU dependence on imported fossil fuels added €106 billion ($119 billion) in costs without any additional energy — von der Leyen
  • Gas prices rose by about 140% since late February, diesel doubled; short-term measures agreed, including the release of 100 million barrels of oil and diesel over four months under the IEA's coordination
  • The EU trade deficit with China reached €1 billion per day in 2025; Ukraine faces a €70 billion funding gap in 2027

Call to change energy consumption

European Commission President Ursula von der Leyen, at a press conference after the EU leaders' summit in Brussels, once again called on Europe to change the way it consumes energy. According to her, the bloc's dependence on imported fossil fuels has increased costs by €106 billion ($119 billion) without providing any additional energy. She noted that reliance on imported oil and gas continues to expose the EU economy to geopolitical factors beyond Europe's control. Since late February, gas prices have risen by about 140%, while diesel has doubled in price.

Energy transition and short-term measures

Von der Leyen called for replacing foreign fossil fuels with electricity produced in Europe and emphasised commitment to the energy transition based on affordable, clean and domestic sources, including nuclear power and renewables. Among the agreed short-term measures: the release of 100 million barrels of oil and diesel over the next four months under the coordination of the International Energy Agency, an expansion of the scope and duration of the temporary state aid framework introduced in February, as well as a one-year postponement of the application of the methane regulation. In addition, the EU will launch a strategic dialogue on European oil refineries aimed at strengthening refining capacity within the bloc and lowering prices.

Costa on competitiveness and trade with China

European Council President António Costa highlighted the impact of high and volatile energy prices on households and businesses, calling energy costs a crucial component of Europe's competitiveness. According to him, the bloc is paying the price for dependence on fossil fuels and the lack of a fully integrated single energy market. Costa also announced that he would convene another informal meeting of EU leaders in Alden Biesen (Belgium) in February 2027 to assess progress on defence and competitiveness. Von der Leyen, in turn, called for a substantial and rapid rebalancing of economic relations with China: the EU trade deficit with the PRC reached €1 billion per day in 2025, and, she warned, the imbalance could worsen in 2026.

Ukraine and migration

Costa said that the EU's commitment to Ukraine remains strong: funds to cover the country's financial needs for the current year have been found, and he called on the European Commission to propose measures for additional financing for 2027. Von der Leyen added that in 2027 Ukraine will face a funding gap of €70 billion and called on international partners to increase their contributions. On the topic of migration, Costa reported that the number of irregular crossings of the EU's borders has fallen to its lowest level since 2021, but acknowledged that the bloc's migration and asylum system still needs improvements.