European Commission Approves Italian State Aid Regimes Due to War, Coronavirus

The European Commission (EC) June 24 issued Daily News Nos. MEX/22/4045 and MEX/22/4002, approving the 2.8 billion euro (US$2.9 billion) Italian state aid regime to support companies in Southern Italy, due to the ongoing Russia-Ukraine conflict, and the 56.25 million euro (US$59 million) Italian state aid regime to support travel agencies, due to the coronavirus pandemic. The regimes include measures to: 1) provide a 30 percent reduction in social contributions due between July 1 and Dec. 31 for companies in Southern Italy, not exceeding 35,000 euros (US$37,041) per aquaculture company and 400,000 euros (US$423,329) for other companies; and 2) provide ...