Islam Times – France announced Friday it is launching an emergency fuel loan program to aid small and medium‑sized businesses struggling with rising fuel costs tied to the war on Iran.The economy ministry said firms in the transportation, agriculture, and fisheries industries would be eligible for the “flash fuel loans” of up to 50,000 euros [$57,600].
Meanwhile, the program delivers on a promise by Prime Minister Sebastien Lecornu, as his government works to ease the economic strain from the war’s effect on fuel prices.
In practice, public investment bank Bpifrance will provide the loans through a fast digital process, making funds available within seven days. The three-year loans carry a 3.8% interest rate, the ministry said.
At the same time, French Economy Minister Roland Lescure said he had written to the European Commission to ask it to investigate whether the continent’s refineries were taking advantage of the war to commit “abuses” in setting fuel prices.
This move reflects growing concern among European governments that some actors in the energy sector may be profiting from the crisis at the expense of consumers and small businesses.
Additionally, France has temporarily eased diesel standards, allowing fuel usable down to 0°C instead of the usual -15°C, to prevent shortages amid tighter global supplies. Economy Minister Roland Lescure noted that, despite the war on Iran, France’s energy market is faring better than many EU countries.
Ultimately, the US-“Israel” strikes on Iran and subsequent retaliation have disrupted the Strait of Hormuz, a key energy route, tightening global diesel supplies and leaving Europe—including diesel-dependent France—vulnerable to price spikes and restricted access.