European Union faces almost 41 billion in fossil fuel costs amid Ormuz crisis
Euronews Portugal26 August 2026 at 17:10
The European Union faces additional costs of almost 41 billion euros in fossil fuels due to the crisis in the Strait of Hormuz, following conflicts related to Iran. European countries spent extra billions on fossil fuels as a result of these geopolitical tensions. European and international groups are pressuring the President of the European Commission, Ursula von der Leyen, to present a concrete plan to eliminate fossil fuel dependence, arguing that the energy transition is essential to reduce Europe's economic and geopolitical vulnerability.
Portugal is going to buy 75 armored vehicles from Spain for the marines, in an investment of 120 million euros fully funded by the European Union. The first vehicles, manufactured in Spain, should start arriving in the country next year.
A lawyer specializing in Labor Law warned that the repositioning of technicians and the consequent review of salary scales with repayment of wages is legally questionable and raises serious legal doubts. According to the specialist, jurisprudence has been favorable to workers in these matters, suggesting that employers face significant risks in case of litigation.
Fosun, a shareholder of Fidelidade and BCP, achieved a profit of approximately 217 million euros in the first half of the year, more than doubling (160.3%) the net result compared to the same period last year, totaling 1,700 million renminbi yuan.
A lawyer stated that the repositioning of higher education technicians, several years after their binding to the Ministry of Education's staff, is legally questionable, adding that previous judicial decisions have been favorable to the workers.
