ATHENS – While monitoring developments in Iran and the Persian Gulf, and hopeful of diplomatic breakthroughs, the Mitsotakis government is focused on mitigating the conflict’s economic impact on Greece and its people. Iran is selectively permitting movements of ships it considers friendly, allowing grain imports and certain energy shipments.
Greek Prime Minister Kyriakos Mitsotakis said the government is ready, within its fiscal capacity, to address rising fuel prices. During his recent visit to Brussels, he discussed the economic impact of the prolonged geopolitical crisis and noted that the European Council’s conclusions allow for greater flexibility in national and European measures.
Returning to Athens, Mitsotakis announced a package of four targeted measures totaling 300 million euros to support Greek citizens from April to May. The package covers diesel fuel support for households and businesses, protections for farmers against sharp fertilizer price increases, and safeguards against high marine fuel costs.
“From the outset of the conflict in Iran, we aimed to create a buffer against this crisis. We acted on the geopolitical front, safeguarding Cyprus and regional energy security, while supporting households and businesses facing international economic instability,” Mitsotakis said. He added that sectors with increased profitability will share part of the cost.
Deputy Prime Minister Kostis Hatzidakis noted that fuel subsidies will go directly to consumers’ pockets and will be implemented by law regardless of how the conflict unfolds, as the economy and market will remain affected.
The implications of the Middle East conflict for international energy markets were discussed by Environment and Energy Minister Stavros Papastavrou and U.S. Secretary of the Interior Doug Burgum. Papastavrou emphasized the need to strengthen U.S.-Greece energy cooperation, including the rapid development of the hydrocarbon sector and the Vertical Corridor.