European Commission approves Spain fuel support

The European Commission has approved a temporary fuel support scheme in Spain, aimed at alleviating the impact of rising energy prices resulting from the ramifications of the U.S.-Iranian conflict. The support includes direct grants of €74 million and is valid until March 31. It covers up to 70% of the additional fuel costs for short-distance shipping companies that meet the criteria, with the amount of support determined based on the vessel's cargo and voyage length. These measures are considered compliant with the rules of the EU market.

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