EU Unveils Emergency Energy Package as Gulf Conflict Shakes Global Supplies

The European Commission will roll out a sweeping emergency energy package to shield Europe from the Gulf war's ripple effects, proposing temporary tweaks to subsidies (covering up to 70% of wholesale power bills and up to 50% of extra fuel costs for some sectors), targeted tax cuts, and steps to coordinate gas and jet-fuel supply while continuing the climate agenda; officials warn real relief will take time and the situation remains volatile as member states juggle short-term fixes with long-term decarbonization.