March 23 – Governments around the world are trying to protect consumers from rising energy costs resulting from the US-Israel war on Iran.
Here’s how different countries responded:
India
** India will review its fuel exports if necessary to ensure their availability in domestic markets, a government official said.
** India is evaluating fuel supply requests from its neighbors and will approve exports only if it has surplus quantities, the Indian Foreign Ministry said.
** The state prohibited consumers of pipelined natural gas from keeping, obtaining, or refilling local LPG cylinders.
** It has used emergency powers and directed refineries to maximize production of liquefied petroleum gas, which is widely used in cooking. It reduced sales to industry to avoid shortages in 333 million homes connected to LPG.
South Korea
** South Korea is easing restrictions on coal power generation capacity and increasing the use of nuclear power plants to up to 80%.
** It is considering providing additional energy vouchers to support vulnerable families.
China
** China has banned exports of refined fuels to pre-empt any potential domestic fuel shortages, four sources said.
** It also releases fertilizer supplies from national commercial reserves ahead of spring planting.
Australia
** Australia is releasing petrol/petrol and diesel from domestic reserves to ease shortages affecting rural supply chains as well as mining and agriculture.
January
** Japan has asked Australia, its largest supplier of liquefied natural gas, to increase production.
European Union
** EU leaders have called for temporary measures to mitigate the impact of rising energy prices, with electricity tax cuts, grid fee cuts and state subsidies being floated as possible short-term fixes.
Bangladesh
** Bangladesh is seeking billions in external financing to secure imports of fuel and liquefied natural gas.
Serbia
** Serbia will reduce customs duties on crude oil by a cumulative 60% to calm the domestic market.
** It also extended the ban on exports of crude oil and fuel products to protect its market from shortages and rising prices.
Italy
** Italian Prime Minister Giorgia Meloni said that Italy is considering reducing customs duties to reduce fuel prices, and is also prepared to increase taxes on companies responsible for unjustifiably benefiting from the energy crisis.
Cambodia
** Cambodia is importing more fuel from suppliers in Singapore and Malaysia to make up for shortfalls in supplies from Vietnam and China.
Malaysia
** Malaysia will raise spending on gasoline subsidies to 2 billion ringgit from 700 million ringgit to maintain the fixed price of fuel.
Thailand
** The Deputy Prime Minister said that Thailand discussed with the Russian government the possibility of purchasing crude oil.
** The minister also said the government would try to cap domestic diesel prices at 33 baht per litre.
** The Thai Planning Agency said the government will freeze the prices of some commodities and provide support to farmers.
Greece
** Prime Minister Kyriakos Mitsotakis said Greece will provide fuel and fertilizer subsidies and discounts on ferry tickets worth a total of 300 million euros in April and May to protect consumers and farmers.
Slovenia
** Slovenia on Sunday temporarily restricted its fuel purchases to address pump shortages caused in part by cross-border refueling and stockpiling due to the Iran war.
Filipino
** The Philippines is set to import Russian oil next week for the first time in five years, data from LSEG, Kpler, OilX and traders showed.
** It also plans to reduce energy bills as LNG prices rise by boosting coal-fired power generation and regulating electricity tariffs.
Vietnam
** Vietnam will switch completely to gasoline blended with ethanol earlier than planned as part of its efforts to reduce the use of fossil fuels, a government document showed.
Indonesia
** Indonesian President Prabowo Subianto wants to increase coal production in the country, and the government is considering imposing an unexpected tax on exports.
Brazil
** Brazilian President Luiz Inacio Lula da Silva signed a decree abolishing federal taxes on diesel.
Egypt
** Egypt has set a ceiling on the price of unsubsidized bread sold in private bakeries.
Ethiopia
** Ethiopia increased fuel subsidies.
North Macedonia
** The North Macedonia government decided on Sunday to reduce the value-added tax on fuel to stop price hikes at pumping stations. Prime Minister Hristijan Mikuski told local media that the value-added tax on gasoline and diesel will be reduced from 18% to 10%. The measure will take effect on Monday at midnight and will remain in effect for two weeks.
Sri Lanka
** Sri Lanka will introduce additional fuel rationing measures to reduce queues and secure additional oil supplies, a senior official said.
This article was generated from an automated news feed without any modifications to the text.
