The European Commission, the executive arm of the European Union (EU), announced this Wednesday (23) that companies in the bloc affected by sanctions imposed on Russia will be able to receive state aid of up to 400 thousand euros and compensation equivalent to up to 30% of the costs of energy, according to temporary rules established by the EU to deal with the crisis generated by the war in Ukraine.
Amounts of up to 35 thousand euros may be granted to companies in the agriculture, fishing and aquaculture sectors. In all other sectors, the aid can reach 400 thousand euros.
In the case of the most expensive energy compensation scheme, the amount per company cannot exceed 2 million euros.
This measure will benefit manufacturers of aluminum and other metals, fiberglass, cellulose, fertilizers, hydrogen and other basic chemicals.
“These sanctions also have an impact on the European economy and will continue to do so in the coming months,” Commission Vice-President Margrethe Vestager said in a statement.
“We need to mitigate the economic impact of this war and support the companies and sectors that are heavily affected,” he added. The temporary rules will be in effect until the end of the year.
Source: CNN Brasil
I am Sophia william, author of World Stock Market. I have a degree in journalism from the University of Missouri and I have worked as a reporter for several news websites. I have a passion for writing and informing people about the latest news and events happening in the world. I strive to be accurate and unbiased in my reporting, and I hope to provide readers with valuable information that they can use to make informed decisions.
