EU approves Irish fishing and aquaculture state aid package

The scheme received the go-ahead under the Middle East Crisis Temporary State Aid Framework (METSAF) adopted by the Commission two months ago.

 The scheme aims to mitigate the impact of the increase in fuel and energy prices on companies active in the primary production of fishery and aquaculture products. The war on Iran launched by the US and Israel on Iran has disrupted shipping through the crucial Strait of Hormuz, and has also led to a US blockade of Iranian oil exports.

Fuel and energy costs for seafood businesses rose sharply during the height of the war in March and April.

The aid scheme will run until the end of this year, covering the additional energy costs resulting from the crisis incurred during the five-month period from March to July 2026.

The aid will take the form of direct grants. For owners of vessels under six metres in length the aid will be a flat rate of €350 (£301), while for owners of vessels of six metres or greater, support will be calculated based on receipted expenditure up to a maximum of €0.40 per litre of fuel (£0.34).

The Commission said it has assessed the scheme under EU State aid rules, which enables member states to support the development of certain economic activities subject to specified conditions.

In particular, aid will be granted based on a scheme with a clear estimated budget, and will be used to temporarily support the development of companies active in primary production of fishery and aquaculture products.