All that has been overtaken by the war in Iran and soaring energy prices. European governments remember the cost of living crisis caused by the sustained spike in energy prices after Russia invaded Ukraine. Nobody expects this European Council summit of leaders to deliver a rebuke of the US and Israel’s decision to open up a war with Iran. A separate emergency clause can be triggered to allow governments to intervene and restrict the effect of high gas prices on electricity costs. Besides the economic knock from higher energy prices, a further souring of Trump’s view of Europe for failing to “help” the US in Iran may come into play down the line.

Source: The Irish Times March 19, 2026 15:31 UTC