EU eyes nuclear energy again as oil prices soar

In a major policy reversal, European Commission President Ursula von der Leyen has declared that Europe's turn away from nuclear power was a 'strategic mistake'. Speaking at a nuclear summit in Paris, she endorsed a return to atomic energy, stating the EU would support investments in next-generation 'innovative nuclear technologies'. This shift is driven by soaring global oil prices and renewed concerns over the bloc's energy vulnerability, exacerbated by recent conflict in the Middle East.

The immediate catalyst is the disruption in global energy markets following US-Israeli strikes on Iran and Tehran's retaliatory attacks, which have severely hampered activity in the critical Strait of Hormuz. While EU officials note the situation hasn't yet reached the crisis levels of the 2022 Ukraine invasion, it has reignited a fierce debate about Europe's external energy dependencies. High energy costs have long been cited by European industry as a key factor eroding competitiveness against rivals in Asia and North America.

Von der Leyen's statement frames nuclear power not just as an energy source, but as a strategic asset for 'reliable, affordable, low-emission power'. This represents a significant departure from the post-Fukushima sentiment that led several European nations to phase out nuclear plants. The new stance signals a potential renaissance for the nuclear sector within the EU, aligning energy security with climate goals.