The European Commission approved a 4.5 million euros ($5.3 million) German aid scheme for fishing and aquaculture companies facing higher fuel costs amid the Middle East crisis, it said Friday.
Germany will provide the support through direct grants under the Middle East Crisis Temporary State Aid Framework, which the commission adopted on April 29 this year.
The scheme will cover 70% of the estimated fuel cost increases incurred by eligible fishing and aquaculture companies from March 1 through July 23, 2026.
Each company can receive no more than 50,000 euros under the program, which targets firms involved in the primary production of fishery and aquaculture products, the Commission said.
Germany's plan meets the framework's requirements, including a defined estimated budget and temporary support for affected companies, according to the commission.
The commission said the aid is necessary, appropriate and proportionate to support economic activity while avoiding an adverse impact on trading conditions that would conflict with the common interest.