European Commission Approves Extension, Amendments to State Aid Temporary Crisis Framework Due to War

The European Commission Oct. 28 approved the extension and amendment of the EU State Aid Temporary Framework, due to the ongoing Russia-Ukraine conflict. The amendments include measures to: 1) extend the temporary crisis framework until Dec. 31, 2023; 2) increase the maximum authorized aid amounts to 250,000 euros (US$247,303) for agricultural companies, 300,000 euros (US$296,764) for fisheries and aquaculture companies, and 2 million euros (US$1,978,260) for companies active in all other sectors; 3) introduce additional flexibility for liquidity support to energy utilities for trading activities; 4) increase flexibility and support possibilities for companies affected by rising energy costs, subject to ...