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The European Commission plans to propose temporary measures, such as grants, subsidies, tax breaks and loans, to cushion the impact of the war in Iran on the agriculture, fishing and transport sectors, according to Reuters, which cited a draft Commission document.
The Commission is consulting with member states before adopting the final version by the end of April, the report said.
Once approved, the aid measures will be implemented until the end of the year and will cover up to 50% of the additional costs for fuel and fertilizers resulting from the crisis in Iran, the report added.
At the same time, the top U.S. derivatives regulator is investigating suspiciously timed trading in the oil futures market ahead of President Donald Trump's recent policy changes regarding the war with Iran, Bloomberg reported, citing sources familiar with the matter.
The Commodity Futures Trading Commission (CFTC) is leading the investigation into the trading of oil futures contracts on platforms owned by CME Group Inc. and Intercontinental Exchange Inc., the report said.
Both exchanges have been asked to submit data as part of the investigation, the report added.
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