The EU Commission approves an amendment to an Italian guarantee scheme, including up to a €3B budget increase, in the context of Russia’s war against Ukraine

State aid: Commission approves amendment to Italian guarantee scheme, including up to €3 billion budget increase, in context of Russia's war against Ukraine* The European Commission has approved, under EU State aid rules, an amendment to an existing Italian guarantee scheme, including an up to €3 billion budget increase, for the reinsurance of natural gas and electricity trade credit risk in the context of Russia's war against Ukraine. The amendment was approved 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. The Italian measure Italy notified to the Commission an amendment to an existing Italian guarantee scheme for the reinsurance of natural gas and electricity trade