EU farmers and hauliers to get up to €50,000 to cover extra costs of Iran war

Fishing companies can also access subsidies in loosening of state aid rules to cover fuel and fertiliser price rises

• Business live – latest updates

The EU is to subsidise up to 70% of the extra cost of fuel and fertilisers caused by the Iran war for farmers, fishing businesses and road hauliers as part of a package of emergency measures.

Individual companies can claim up to €50,000 each between now and the end of the year with minimum paperwork, a measure the EU hopes will remove what it sees as an existential threat to hauliers and farmers.