Author (Corporate) | European Commission: DG Competition |
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Series Title | Official Journal of the European Union |
Series Details | C 131I, Pages 1-17 |
Publication Date | 24/03/2022 |
Content Type | Blog & Commentary, News, Policy-making |
Summary:Communication published by the European Commission on 23 March 2022, setting out a Temporary Crisis Framework aimed at enabling Member States to use the flexibility foreseen under EU State aid rules to support the economy in the context of Russia's invasion of Ukraine. Further information:Russia's decision to invade Ukraine in February 2022 was met with shock and condemnation by most international stakeholders. The European Union (EU) engaged in efforts to respond to the aggression with packages of sanctions and other restrictive measures targetting Russia and its ally, the Belarusian regime. Russia reacted by imposing sanctions of its own against the EU Member states. Crucially, the whole situation led to massive displacement of people from Ukraine into EU territory. It also affected supply chains, the agricultural sector, imports and exports, and the energy market. Crucially it also This Communication specifies the criteria for the assessment of the compatibility with the EU internal market of State aid measures that Member States may take to remedy the economic effects following Russia's invasion of Ukraine, the sanctions and counter-measures in place as a result. The Temporary Crisis Framework recognises that the EU economy is experiencing a serious disturbance. It therefore provides for three types of aid:
Moreover, this Framework also aims to target support to the economy, while limiting negative consequences to the level playing field in the EU Single Market. It was designed to be in place until 31 December 2022. |
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Source Link | https://eur-lex.europa.eu/legal-content/EN/ALL/?uri=uriserv:OJ.CI.2022.131.01.0001.01.ENG |
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Subject Categories | Internal Markets |
Subject Tags | Competition Law | Policy, Wars | Conflicts |
Keywords | State Aid, War in Ukraine (2022-) |
International Organisations | European Union [EU] |