European Commission: We're Losing Around €500 Million Daily Since the Start of the War

The European Commission announced on Wednesday that it has been losing around €500 million daily since the start of the war, and that any agreement with Iran must address its nuclear program and ballistic missiles.

European Commission President Ursula von der Leyen dismissed speculation about an imminent easing of tensions with Tehran, asserting that it is far too early to discuss lifting sanctions on Iran at this time.

In remarks made in Berlin, the German capital, von der Leyen explained that the European sanctions were not imposed arbitrarily, but rather as a result of what she described as Iran's repression of its people. She emphasized the need to see a fundamental change in Iranian policies before taking any steps to lift economic restrictions.

The Commission President also sharply criticized German Chancellor Friedrich Merz, stating that proposals to lift sanctions in exchange for "reopening the Strait of Hormuz" are unacceptable to Europe at this stage.