The Greek government announced plans to impose a maximum profit margin on fuel and supermarket products in response to rising prices and economic instability linked to international tensions, Prime Minister Kyriakos Mitsotakis said on Wednesday.
Speaking after a meeting with President Konstantinos Thasoulas, Mitsotakis said the measures aim to prevent “economic instability from translating into profiteering,” which could worsen the existing crisis.
The government will set a three-month cap on allowable profit margins for both fuels and retail goods, with authorities monitoring the economic impact closely. Details of the measures will be further clarified by the Deputy Prime Minister, the Minister of Environment and Energy, and the Minister of Development, officials said.
President Thasoulas emphasized the importance of vigilance in preventing speculation, likening it to the government’s approach in defending Cyprus. He said the measures are intended to deter those seeking to exploit the current crisis for excess profits.
The meeting also addressed Greece’s support for Cyprus, its stance on regional security in Lebanon, and efforts to repatriate Greek citizens stranded in conflict zones. Mitsotakis reiterated Greece’s role as a “pillar of geopolitical security” in the region, underscoring the country’s commitment to stability and international cooperation.