EU, less imported fossil fuels - Figures since the start of the war in the Middle East
The renewable energy boom in Europe has helped to insulate the continent from rising oil and gas prices - which remain volatile due to Iran's control of the Strait of Hormuz - with solar power alone saving Europe €12.8 billion since June 2.
However, the EU still spends billions of euros on fossil fuel imports - and has increased its dependence on its two largest suppliers of liquefied natural gas (LNG), the US and Russia.
A new analysis from the Institute for Energy Economics and Financial Analysis (IEEFA) shows that LNG imports into the EU have fallen by 1.2 percent since March and continue to fall.
In the UK, LNG imports fell by 20 percent over the same period. Overall, this represents a three percent decrease.
While many EU members have responded to the recent fossil fuel crisis by limiting LNG imports, others have deepened their exposure by increasing them. Germany’s LNG imports rose by 72 percent compared to the same period last year from March to May 2026, the most significant increase among all EU countries. Italy – which is at risk of missing its 2030 emissions target – and Belgium have also increased LNG imports over the past year.
The IEEFA analysis also found that the US and Russia's dependence on LNG continued during the first 100 days of the Middle East war. Following the closure of the Strait of Hormuz, Qatar's liquefied gas imports from Europe have declined.
Rising fossil fuel import costs, coupled with more than 210 emergency measures adopted by member states, have left the EU with a €60 billion energy bill from the war. Home-grown renewables have often been touted as the best way to reduce the EU’s dependence on fossil fuels. Last year, clean energy saved the EU €51 billion by cutting polluting imports, with solar and wind power leading the way.
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