Media: Dutch government allocates €1 billion to mitigate impact of energy crisis

The Netherlands has allocated more than €950 million to mitigate the potential impact of an energy crisis linked to the situation in the Middle East.

The government officials said the package of measures is aimed at supporting households and businesses in the event of rising prices and possible fuel shortages, Caliber.Az reports, citing Bloomberg.

It includes tax relief on transport costs and targeted assistance for low-income families to help pay energy bills.

Finance Minister Eelco Heinen stated that authorities are preparing for further deterioration of the situation and have already activated the first phase of the national oil crisis response plan for the first time since it was established in 2022.

At this stage, measures include consultations with industry, monitoring of fuel stocks, and preparation of possible responses, including the use of strategic reserves.

In the event of a further escalation, restrictions on fossil fuel consumption cannot be ruled out.

By Bakhtiyar Abbasov