The WSJ reported a slowdown in the eurozone economy due to the energy shock

The eurozone economy slowed down in the first quarter amid a spike in energy prices caused by the conflict in the Middle East. This was reported by The Wall Street Journal (WSJ) on April 30.

"The gross domestic product of the eurozone grew by 0.1% in the first quarter, which is lower than the projected growth of 0.2% in the last three months of 2025," according to Eurostat data.

Rising energy prices have a negative impact on consumer spending and industrial recovery. According to experts, the impact of the conflict in the Middle East will only increase. The situation is aggravated by Europe's high dependence on energy imports. The additional costs of the EU for their purchase after the escalation of the situation around Iran amounted to about € 27 billion.

Against this background, the European Central Bank lowered its forecast for the growth of the eurozone economy in 2026 to 0.9%.

For example, growth accelerated in Germany, while it stopped in France, and slowed down in Italy, Spain and the Netherlands. At the same time, inflation accelerated to 3% in April, which increases the risks of stagflation, a combination of economic recession and rising prices.

According to the newspaper, the energy shock caused by the conflict worsens the economic prospects of the EU, putting pressure on budgets and affecting growth and inflation.

It is noted that Europe has not yet recovered from the consequences of the 2022 crisis caused by the conflict in Ukraine. Against the background of ongoing conflicts, fossil fuel costs have already increased by more than €20 billion, and oil prices have exceeded $110 per barrel.

More than it will affect: the global gas crisis will last about five years

Which countries will be affected first and how long will it take to restore the supply of Middle Eastern LNG

The head of the European Council, Antonio Costa, said on April 24 that the crisis in the Middle East was having a slowing effect on the growth of the EU economy. The consequences of the same event, he said, have a direct impact on the lives of ordinary Europeans.

Slovak Prime Minister Robert Fico said on April 18 that the energy situation should change the EU's attitude towards Russia. He also mentioned the EU's assistance to Ukraine, which was responsible for the cessation of supplies via the Druzhba oil pipeline.