France allocates €330 million to support industries hit by energy price surge

France will provide €330 million in state aid to support key industries affected by rising energy costs, Minister of Public Accounts David Amiel announced.

The decision comes amid a sharp increase in energy prices across the European Union, driven by disruptions linked to the conflict involving Iran and the closure of the Strait of Hormuz, a critical global oil transit route, Caliber.Az reports per Russian media. 

According to the government, sectors including fishing, agriculture and transportation—considered among the most vulnerable to energy price fluctuations—will receive financial assistance, with €150 million allocated in April and a further €180 million in May.

The surge in energy costs has significantly impacted fuel prices in France, where gasoline prices have risen by around 19 percent on average, while diesel has increased by nearly 36 per cent at the pump.

By Sabina Mammadli