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Fossil Fuel Subsidies to Hit $1 Trillion in War’s Energy Price Shock, UN Says

Fossil Fuel Subsidies to Hit $1 Trillion in War’s Energy Price Shock, UN Says
Bloomberg Markets Monday 29 June 2026, 16:11 UTC By Stella Mackler 1 min read
Key Points

Fossil Fuel Subsidies to Hit $1 Trillion in War’s Energy Price Shock, UN Says Fossil fuel subsidies are projected to reach $1.1 trillion in 2026 as governments spend more to shield consumers from high energy prices triggered by the war in Iran. Low and middle income countries in Africa and Asia implemented price caps, tax rebates and demand-management measures, according to a United Nations report released Monday. Relief measures are set to surpass the $700 billion spent globally on...

Fossil Fuel Subsidies to Hit $1 Trillion in War’s Energy Price Shock, UN Says Fossil fuel subsidies are projected to reach $1.1 trillion in 2026 as governments spend more to shield consumers from high energy prices triggered by the war in Iran. Low and middle income countries in Africa and Asia implemented price caps, tax rebates and demand-management measures, according to a United Nations report released Monday. Relief measures are set to surpass the $700 billion spent globally on subsidies last year. [Image text:] THE DEPARTMENT OF THE TREASURY
Fossil Fuel Subsidies to (PERSON) UN (ORG) Iran (LOCATION) Africa (LOCATION) Asia (LOCATION) United Nations (ORG)
Originally published by Bloomberg Markets Read original →

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