Europe Spent €10 Billion on Iran Energy Shock Aid, Bruegel Says

European Union states have committed over €10 billion ($11.7 billion) to shield consumers and businesses as the Iran war drives up energy prices, according to the Bruegel think tank.

The spending hasn’t been deployed efficiently with nearly four-fifths of measures — such as blanket tax cuts — poorly targeted, according to a study by the Brussels-based think tank. Some of the support being offered doesn’t fit with European Commission advice that aid should be temporary and not boost demand. Spain accounts for almost half of the total, with Germany the second-highest spender.

The energy shock is worsening the economic outlook ...