The increase of oil and gas prices caused by the Iran war is expected to add a double‑digit‑billions‑euro cost to Germany’s fossil‑fuel imports this year. This figure comes from a calculation produced by the state‑owned bank KfW at the request of the Sunday edition of the “Frankfurter Allgemeine Zeitung”.

KfW economists project that in 2026, Germany’s import costs for crude oil, natural gas and coal will rise by roughly €20 billion, reaching €92 billion. The estimate is based on the assumption that energy prices will stay at the current high level until the end of the year and that German consumption of oil and gas will fall because of the price hike.

If, however, fossil‑fuel consumption does not drop amid the energy crisis, the import costs could climb even higher-to €99 billion, an increase of about €27 billion, according to the KfW study.