The Hormuz blockade impacts food supplies; the EU approves a €25 million fuel subsidy for Spanish fisheries.
- The European Commission on Thursday approved a €25 million aid plan from the Spanish government to support fishing fleets affected by soaring fuel costs due to the Middle East war and the closure of the Strait of Hormuz.
- The aid will be granted in the form of direct subsidies: for diesel purchased by companies between March 22, 2026 and June 30, 2026, a subsidy of €0.20 per litre can be obtained, with a maximum of €200,000 per vessel and a maximum of €400,000 per vessel owner.
- This aid can cover up to 70% of the additional fuel costs caused by the Middle East crisis. Brussels believes the plan is “necessary, appropriate, and proportionate,” aiming to promote the development of economic activities without negatively affecting trading conditions.
- The European Commission stated that the plan is based on a “clearly estimated budget” and will temporarily support the development of companies engaged in primary fisheries production.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
ASBIS posts August revenue up 91% to USD 604 million, sets monthly record
The new Roadster, postponed for nine years, finally has a release date! Morningstar maintains Tesla (TSLA.US) target price at $450: Supercars are not the valuation logic, FSD, Robotaxi, and Optimus are.
Tesla has officially announced that the new generation Roadster will be unveiled on October 1. However, institutions generally believe that this is primarily a branding campaign and will have minimal impact on the company's valuation.
Market Chatter: Paramount, California Settlement Talks Include Penalty for Missing 30-Film Pledge
Intesa Sanpaolo hosts Italian Equity Champions investor conference in New York
Crypto prices
More
