On Wednesday 26 July, the European Commission announced that it had authorised a Czech aid scheme worth €5 billion (CZK 125 billion) to support major energy producers in the wake of Russia’s military aggression against Ukraine.
The aid will reach large energy producers in the form of subsidised loans and will help them to respond to requests for guarantees on the energy trading markets.
The European Commission found that the Czech measure complied with European state aid rules and,...