EU Seeks Coordinated Response to Energy Price Shock Amid Iran War, Warns Against Costly Subsidies

• EU finance ministers to coordinate response to surging energy prices triggered by Iran war.
• Focus on targeted, temporary interventions to protect vulnerable households, avoiding broad subsidies.
• Coordination across member states deemed essential to prevent market fragmentation and optimize policy impact.
• Oil and gas price spike follows U.S.-Israeli strikes on Iran disrupting Strait of Hormuz flows.
• Proposals include direct support for low-income households, demand curbing measures, and a two-tier pricing system.