Geopolitical events
On August 9, 2026, the European Commission unveiled the "Sovereign Energy Autonomy Plan," a €150 billion public investment strategy aimed at fast--tracking the construction of interconnected liquefied natural gas (LNG) terminals and cross--border hydrogen pipelines. This policy is a direct response to the continued closure of the Strait of Hormuz and the resulting energy deficit across the continent. European Commission President Ursula von der Leyen stated that the plan is "the definitive blueprint for European energy independence" and will be funded through a new series of "Green Resilience Bonds." The initiative also mandates that member states increase their strategic gas reserves to 120 days of consumption by the end of the fiscal year.