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FINWIRES

Spain Secures EU Approval for Fuel Aid Scheme

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The European Commission approved on Wednesday a 402 million euro ($458 million) Spanish state aid scheme designed to support road transport companies grappling with soaring fuel prices stemming from the Middle East crisis.

Cleared under the Middle East Crisis Temporary State Aid Framework adopted by the Commission on April 29, the package provides vital financial cushioning for logistics and transport operators navigating extreme energy market volatility.

The state aid will be administered through direct grants tailored to different categories of operators.

For businesses already qualified under Spain's professional diesel tax refund scheme, the grants can cover up to 70% of additional fuel costs incurred between March 1 and June 30, the commission said.

For companies ineligible for that specific tax relief, assistance is either capped at 50,000 euros per enterprise or extends coverage for up to 70% of incremental fuel expenses incurred through December 31, it stated.

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