Spain is to reduce VAT on fuel from 21% to 10% to mitigate the impact of the Iran war, Ser Radio reports

Spain's decision to reduce VAT on fuel from 21% to 10% is aimed at alleviating the rising costs driven by the ongoing Iran war, which is likely to influence energy prices in the region. This move may set a precedent for other EU countries considering similar measures to combat inflation in energy costs, potentially affecting overall energy demand and market dynamics.