German chancellor says conflict with Iran has cost Europe over €100 billion

What happened: The German chancellor said the conflict imposed on Iran has already cost Europe more than €100 billion. Source: ISNA (Telegram).

Additional reporting: Over the past eight months, Europe’s costs from higher energy prices linked to the fighting have exceeded €100 billion, and European companies and consumers have paid more than €100 billion in extra energy costs as a result, according to Javan newspaper. The report quoted the chancellor saying the crisis has no military solution and must be resolved through diplomacy and negotiation, and that Europe has an economic interest in ending the conflict quickly.