German Chancellor Friedrich Merz has said the ongoing war involving Iran cannot be resolved through military means, warning that the conflict has increased Europe's energy costs by more than 100 billion euros over the past eight months.
Speaking to journalists in Seoul, the South Korean capital, on Friday (October 30), Merz said Germany was coordinating and intensifying diplomatic efforts to bring the conflict to an end.
"Due to rising energy prices, this conflict has cost European businesses and consumers more than 100 billion euros in additional expenditure," he said.
Merz stressed that ending the conflict as soon as possible was also in Europe's economic interest.
"We therefore have an economic interest in bringing this conflict to an end as quickly as possible," he said.
Emphasising the importance of negotiations, the German chancellor said, "This conflict cannot be resolved militarily."
The impact of the Middle East conflict is becoming increasingly evident in Europe's energy markets and wider economy. Higher energy prices are raising production costs for businesses and increasing the cost of living for consumers.
Against this backdrop, Germany is prioritising diplomatic initiatives to end the war and restore stability in energy markets.
