EV boom saved six European countries almost €2 billion on oil imports since the war with Iran began
Ember's analysis showed that from March to August 2026, electric vehicles displaced about 200 million barrels of oil worth $20 billion. The largest savings went to China ($14 billion), EU countries saved $3.1 billion. Denmark leads in the share of displaced oil relative to national consumption. The rise in oil prices is linked to Iran's blockade of the Strait of Hormuz.
Javlon Tursunov

