EU, more fuel subsidies - Aimed at coping with wartime price increases
The European Commission wants to allow countries to release more public money to help businesses with fuel and fertilizer bills as governments rush to offset the economic shock from rising prices caused by the Iran war.
As part of a broader package of measures that Brussels is preparing to respond to rising energy prices, the Commission on Monday proposed changing EU state aid rules to allow more public spending for industries hit hard by rising fuel prices, including agriculture, road transport and intra-European maritime transport.
The changes would allow governments to cover some of the increase in prices that companies have paid for their fuel or fertilizers, compared to prices before the start of the US-Israeli war with Iran on February 28.
The EU draft plan would also increase, to over 50%, the maximum share of aid that energy-intensive industries can receive to help pay their energy bills.
European governments, including Germany, Italy, Poland and Hungary, have already introduced a range of financing measures, including fuel price caps and tax cuts, in an attempt to curb the economic fallout of the Iran war.
Governments will provide feedback on the EU proposals before the Commission plans to adopt a final version by the end of the month. The proposed changes will be temporary, introduced specifically to address the energy consequences of the war in Iran.
The Commission examines state aid from national governments to check whether it distorts competition in the EU's single market.
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