The EU Commission approves a Finnish scheme worth €2B to support companies in context of Russia’s invasion of Ukraine

State aid: Commission approves €2 billion Finnish scheme to support companies in context of Russia's invasion of Ukraine* The European Commission has approved a €2 billion Finnish loan and guarantee scheme to support small and medium enterprises (‘SMEs') and large companies in the context of Russia's invasion of Ukraine. The scheme was approved under the State aid Temporary Crisis Framework, adopted by the Commission on 23 March 2022, based on Article 107(3)(b) of the Treaty on the Functioning of the European Union (‘TFEU'), recognising that the EU economy is experiencing a serious disturbance. Executive Vice-President Margrethe Vestager, in charge of competition policy, said: “Russia's unjustified military aggression against Ukraine and the related sanctions are having a significant

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European Commission, The EU Commission approves a Finnish scheme worth €2B to support companies in context of Russia’s invasion of Ukraine, 15 July 2022, e-Competitions July 2022, Art. N° 107764

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