Netherlands to Allocate Over 35 Billion Yuan to Alleviate Burden of Rising Fuel Prices on Public

The Dutch government announced today that it will release over 950 million euros (approximately 35.2 billion NT dollars) to compensate individuals and businesses, given the surge in gasoline prices following the outbreak of the US-Iran war. According to Agence France-Presse, the Dutch government stated in a declaration that energy prices are expected to remain high temporarily, even if the Middle East conflict ends soon. The first subsidy measures, worth 627 million euros (approximately 23.2 billion NT dollars), will prioritize households and businesses that have already felt the impact. The Dutch government will subsequently release subsidies of 340 million euros (approximately 12.6 billion NT dollars) by reducing corporate fees, with funds to be raised by increasing taxes on other goods, particularly alcohol. In addition, the Dutch government today launched the first phase of a crisis plan to respond to "imminent" fuel shortages. Since the outbreak of the US-Iran war on February 28th, crude oil produced by Persian Gulf countries has been continuously unable to be transported out of the Strait of Hormuz, leading to soaring oil and natural gas prices. The Dutch government stated that although there is no "severe" gasoline shortage locally at present, they are mobilizing official agencies and businesses to prepare for a situation where it might worsen. (Translator: Zhang Zhengqian) 1150420