European countries introduce energy relief measures, with Greece and Cyprus calling on the EU to ease fiscal restrictions

Several European countries are introducing energy relief measures, including tax cuts and subsidies, to address the cost pressures on households and businesses caused by the ongoing energy crisis and geopolitical turmoil in the Middle East. According to a roundup by Phileleftheros, the additional cost of EU fossil fuel imports is estimated at around €100 billion, and countries are mainly cutting indirect taxes to bring down fuel prices.