EU eyes energy tax cuts to counter impact of Iran war

The war in the Middle East is having an increasingly significant impact on energy markets. In recent days, strikes by both Iran and Israel have caused extensive damage to the region’s energy infrastructure, and prices are skyrocketing. Meeting in Brussels for a European summit, European leaders discussed measures to be implemented to curb the surge in prices, including lifting caps on state aid for energy-intensive industrial sectors and reducing taxes on electricity.

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