EXCLUSIVE EU corporations hit by Russia sanctions can get 400,000 euros help

Flags wave earlier than an off-the-cuff summit of EU leaders on the Chateau de Versailles (Versailles Palace) in Versailles, close to Paris, March 10, 2022. REUTERS/Sarah Meyssonnier

ROME, March 22 (Reuters) – EU corporations affected by sanctions in opposition to Russia over its invasion of Ukraine can stand up to 400,000 euros ($441,320) in state help, in accordance with a European Fee doc seen by Reuters.

Firms within the agricultural, fishery and aquaculture sectors can stand up to 35,000 euros in direct grants, tax and cost benefits and ensures, the doc stated.

The transfer to loosen for now state help guidelines to assist 1000’s of corporations dealing with disruptions to their provide chains because of the sanctions adopted a precedent set two years in the past when the EU govt relaxed guidelines to assist COVID-hit companies.

Firms hit by excessive fuel, electrical energy costs can get help not exceeding 30% of eligible prices as much as a most of two million euros, the doc stated.

Firms dealing with a money crunch can request a public assure for his or her loans, for as much as 15% of their common whole annual turnover during the last three closed accounting intervals or 50% of power prices over a 12 months.

The assure is restricted to 6 years and covers solely funding or working capital loans.

Firms with liquidity points also can apply for subsidised loans, the doc stated.

($1 = 0.9064 euros)

Reporting by Giuseppe Fonte in Rome, writing by Foo Yun Chee; Enhancing by Emelia Sithole-Matarise

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