Economic impact of high fuel prices on the EU fishing fleet
Energy prices have increased sharply because of the military invasion of Ukraine by Russia since March 2022, heavily impacting global economies. Currently, the EU fishing sector faces paying up to about €1.0 per litre of fuel; at the peak of the crisis in June it was paying €1.2 per litre, around three times the normal average price. The high fuel prices are jeopardising the viability of the sector, which is largely fuel intensive and particularly vulnerable to fuel price increases. The European Commission has responded with emergency measures, adopting a Temporary Framework for State aid rules and activating the crisis mechanism foreseen under the European Maritime, Fisheries and Aquaculture Fund (EMFAF). This communication examines the economic impact of the high fuel prices and the financial support available to the EU fishing sector.
GUILLEN GARCIA Jordi;
CARVALHO Natacha;
CARPENTER Griffin;
BORRIELLO Antonio;
CALVO SANTOS Angel;
2023-09-15
MDPI
JRC131235
2071-1050 (online),
https://www.mdpi.com/journal/sustainability,
https://publications.jrc.ec.europa.eu/repository/handle/JRC131235,
10.3390/su151813660 (online),
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