Germany’s imports of fossil fuels could cost an extra two‑digit‑million‑euro sum this year because of price rises triggered by the Iran war, according to an analysis prepared by the state‑owned bank KfW for the “Frankfurter Allgemeine Sonntagszeitung”.
The economists at KfW project that, by the end of 2026, the country’s import costs for crude oil, natural gas and hard coal will stand at about €92 billion-an increase of roughly €20 billion from today’s level. That estimate assumes that energy prices remain high for the rest of the year and that German consumption of oil and gas will fall in response to the higher costs.
If, on the other hand, the demand for fossil fuels does not shrink amid the energy crisis, the import bill could jump to €99 billion, an increase of around €27 billion, according to the bank’s calculation.
