On 19 December 2022, the European Commission approved a EUR 80 million recapitalisation measure to support Meyer Turku Oy in the context of Russia’s war against Ukraine. Excluding the energy sector, this was the first case where the Commission found that a recapitalisation measure is in line with the principles set out in the Temporary Crisis Framework for State aid measures to support the economy following Russia’s war against Ukraine. In particular, the Commission considered that the aid was proportionate and limited to the amount necessary. Further, the safeguards in place were appropriate to ensure that the aid does not unduly distort competition in the Single Market.
Please also view the European Commission’s press release here.