The European Commission approved, on Monday 6 March, an amendment to an existing Italian guarantee scheme, including an up to €3 billion budget increase, for the reinsurance of natural gas and electricity trade credit risk in the context of Russia’s war against Ukraine.
The amendment was approved on the basis of Article 107(3)(b) of the Treaty on the Functioning of the EU, recognising that the EU economy is experiencing a serious disturbance.
The initial scheme, approved by the...