State aid: Commission approves €1.14 billion Hungarian scheme to support companies in context of Russia's invasion of Ukraine* The European Commission has approved a €1.14 billion (HUF 442.37 billion) Hungarian scheme to support companies across sectors 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: “With this more than €1 billion scheme, Hungary will support companies across sectors affected by the current geopolitical crisis and
The EU Commission approves €1.14 billion Hungarian scheme to support companies in context of Russia’s invasion of Ukraine
Access to this article is restricted to subscribers
Already Subscribed? Sign-in
Access to this article is restricted to subscribers.
Read one article for free
Sign-up to read this article for free and discover our services.