EU approves €60.7 million Romanian scheme to support the road transport sector in the context of Russia’s invasion of Ukraine

The European Commission has approved a €60.7 million (RON 300 million) Romanian scheme to support companies active in road transport of goods and persons in the context of Russia's invasion of Ukraine - June 28, 2022 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 €60.7 million scheme, Romania will support the road transport sector severely affected by the fuel prices increase caused by the current geopolitical crisis and the related sanctions. This is an important step to mitigate the economic impact of Putin's war against Ukraine. We continue to stand with Ukraine and its people. At the same time, we continue working closely with Member States to ensure that national support measures can be put in place in a timely, coordinated and effective way, while protecting the level playing field in the Single Market.” The Romanian measure Romania notified to the Commission a €60.7 million (RON 300 million) scheme to support companies active in road transport of goods and persons in the context of Russia's invasion of Ukraine. The purpose of the scheme is to provide liquidity support to those companies affected by the fuel prices increase caused by the current geopolitical crisis and the related sanctions, while ensuring the uninterrupted movement of goods and persons by road. The measure will be open to companies of all sizes active in road transport of goods and persons with a valid community license that are affected by the current crisis. Under the scheme, the beneficiaries will be entitled to receive limited amounts of aid in the form of direct grants. The Commission found that the Romanian scheme is in line with the conditions set out in the Temporary Crisis Framework. In particular, the aid (i) will not exceed €400,000 per company; and (ii) will be granted no later than 31 December 2022. The Commission concluded that the Romanian scheme is necessary, appropriate and proportionate to remedy a serious disturbance in the economy of a Member State, in line with Article 107(3)(b) TFEU and the conditions set out in the Temporary Crisis Framework. On this basis, the Commission approved the aid measure under EU State aid rules. © European Union, 1995-2022

EU approves €60.7 million Romanian scheme to support the road transport sector in the context of Russia’s invasion of Ukraine

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EU approves €60.7 million Romanian scheme to support the road transport sector in the context of Russia’s invasion of Ukraine

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All news

DP World issues a “blue bond” in the Middle East

Turkey’s STM to build two ships for Portuguese Navy

Port of Figueira da Foz moves tugboat to the Atlanticeagle Shipbuilding shipyard

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Our Expert Analysis

Latest Free Reads

Top Ports