On Tuesday 20 December, the European Commission approved changes to an existing Italian guarantee scheme, including a budget increase of up to €23 billion, to support businesses in the context of Russia’s war against Ukraine.
The support is in line with the Temporary Framework for State Aid, adopted by the Commission on 23 March 2022 and amended on 20 July 2022 and on 28 October 2022. The overall budget of the measure is not over €33 billion.
The Commission approved the original...