Sánchez says US-Israel war on Iran has cost Europe more than €100 billion

Spain’s Prime Minister Pedro Sánchez said the war in Iran has cost Europe more than €100 billion, linking the conflict’s economic burden to rising living costs and pressure on businesses. The estimate was reported by 1news.az, which quoted Sánchez speaking after arriving in Brussels for an EU summit.

Sánchez described the conflict as “unfair and unjustified” and said it had already cost more than €100 billion across EU member states and Europe. The figure is his stated estimate as reported by 1news.az; the article does not present it as an independently calculated or verified total. He pointed to higher energy prices as a particular part of the cost-of-living increase.

According to the account, Sánchez said those prices were reducing Europeans’ purchasing power. The report does not give a separate price measure or quantify the change in household purchasing power. Sánchez also said rising costs were weakening the competitiveness of businesses and industrial sectors.

His remarks connect the claimed economic impact to both consumers’ buying power and the ability of businesses and industry to compete, but the account supplies no additional figures for either effect. The article says the United States and Israel launched the war in Iran. It does not provide further detail about military events or statements by either government.

Its focus is Sánchez’s assessment of the economic cost and the effects he identified, rather than a broader account of the conflict. Sánchez made the remarks after arriving in Brussels for an EU summit. The account does not describe a specific EU decision or policy announcement connected to his estimate.

His central claim is that the war has imposed a cost exceeding €100 billion, while the stated mechanisms are increased living costs—especially energy prices—and reduced purchasing power and competitiveness.