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.
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