EU to give up to ₹55-lakh subsidies to businesses hit by Iran war

Businesses that were affected by price hikes due to the Iran war are eligible for subsidies on extra fuel and fertiliser costs, EU's competition regulators said. Some sectors can get subsidies up to €50,000 (₹55 lakh) under temporary rules. Agriculture, fisheries and transport firms can be compensated for up to 70% of extra costs due to the war.