European Union plans to introduce short-term measures to support industries hit by rising prices, including taxes on energy, energy infrastructure, and a carbon tax, APA reports citing Reuters.
"Any proposed legislative change will not be implemented immediately; an interim solution may be needed to reduce energy prices over the next two to five years until the transition to clean energy eases the pressure on prices," Reuters quoted an excerpt from the document.
According to the document, Brussels is forced to seek quick solutions due to requests from businesses that were losing out to the US and China even before the Middle East escalated. European Commission President Ursula von der Leyen promised to present policy options to EU leaders at the March 19 summit.
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