French Economy Minister Roland Lescour stated on Tuesday that the Iran crisis and its ripple effects on energy markets have resulted in economic losses for France ranging from 4 billion euros (approximately 4.71 billion US dollars) to 6 billion euros.

In an interview with French radio station RTL, Lescour indicated that these losses include the increased financing costs for government debt driven by the current market conditions.

He added that he would introduce measures on the same day to reduce public spending. Separately, French Prime Sébastien Lecornu is expected to announce a series of initiatives on Tuesday evening aimed at helping citizens cope with rising energy prices.