EU Relaxes State-Aid Shackles to Offset Iran Economic Pressures

The European Union temporarily relaxed its state-aid regime to give nations more scope to subsidize firms hit hardest by higher energy and raw material prices amid the conflict in Iran.

The move aims to ensure “growth of the most exposed companies is not irreparably hampered by the current crisis” and will be in place until the end of the year, the European Commission said on Wednesday.