Europe would be making a strategic blunder if it sought to blunt soaring energy prices with a return to Russian fossil fuels, European Commission president Ursula von der Leyen said on Wednesday.

"In the current crisis, some argue that we should abandon our long-term strategy and even go back to Russian fossil fuels. This would be a strategic blunder," von der Leyen said in a speech in European Parliament.

Von der Leyen said the EU was preparing options to lower energy prices, including the better use of power purchasing agreements, state aid measures and gas price subsidies or caps.

-Jan Strupczewski and Makini Brice/Reuters