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Germany to cut fuel taxes amid Iran war energy shock

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German Chancellor Friedrich Merz warned the economy faced prolonged consequences from the Mideast war

German Chancellor Friedrich Merz warned the economy faced prolonged consequences from the Mideast war

Chancellor Friedrich Merz said Monday Germany will slash fuel taxes as households struggle with the energy shock from the Middle East war, while warning the conflict will have long-lasting economic consequences.

The announcement came after oil prices surged again following the collapse of US-Iran peace talks and US President Donald Trump's decision to blockade the Strait of Hormuz. 

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Originally published on doc.afp.com, part of the BLOX Digital Content Exchange.

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