Europe’s economy is slowing sharply as the Iran war drives up energy costs, deepening pressure on households and challenging policy makers. Fresh data for May showed euro zone business activity contracted at its fastest pace in more than two years while inflation pressures intensified, raising fears of a prolonged cost-of-living crunch and possible recession.
Europe will get together with Russia if it benefits it. Getting together on Iran might improve their relationship enabling them to reach a peace deal on Iran.
Europe and China would escort ships through the Strait of Hormuz. The addition of Russia would be a more formidable force.
Breaking the dependence on fossil fuels will take many years.