EU leaders meet for a two-day summit in Brussels starting Thursday to address
surging energy costs; the US‑Iran war has left policymakers with limited options
and energy inflation is central to debates over European competitiveness. The
European Commission will tell heads there is no quick fix. Member states face
fiscal constraints: price caps or tax cuts carry heavy budget costs, and higher
interest rates raise the fiscal burden. Brussels is considering measures with
limited near-term impact — extending joint energy procurement, postponing
methane-related climate rules tied to fossil-fuel imports, and prolonging
national aid for hard-hit industries. Europe’s reliance on imported oil and gas
means these steps are unlikely to prevent short-term energy-price increases.
