The EU Commission had brought loans with low interest rates or limited grants into play because of the rise in energy prices. A protection shield for Russia is also to be discussed.
The federal government is planning aid for companies affected by western sanctions against Russia.
According to the Federal Ministry of Economics, work is currently underway on a loan assistance program to support those companies that have been hit hard by the EU sanctions against Russia. “We also take a close look at the EU’s subsidy framework. Because many questions depend on it, »said a spokeswoman for the German Press Agency.
The European Commission had proposed that companies affected by the consequences of the war against Ukraine be granted loans with particularly favorable interest rates or limited grants due to the current sharp rise in gas and electricity prices. This is intended to mitigate the consequences of the Russia sanctions for companies in the EU. EU countries have the opportunity to comment on the proposal.
Is there a protective shield for Russia?
The Ministry of Economic Affairs is now examining the Brussels authorities’ proposals for a new crisis aid framework. “It is true that sanctions and the consequences of sanctions are not legally liable for compensation, but of course we help where companies would otherwise be forced to their knees because of the effects of the sanctions,” said the spokeswoman.
The “Handelsblatt” had reported that the federal government was working on new economic aid. According to information from the newspaper, the federal government is considering, among other things, setting up a protective shield against Russia, similar to the one set up for the Corona crisis. Work is also being done on a separate protective shield for the energy industry. The plans have not yet been finalised, according to the “Handelsblatt” they still have to be coordinated between the finance and economics ministries.
The EU had imposed far-reaching sanctions on Moscow because of the Russian war of aggression in Ukraine. These are also likely to have an impact on the economy in the European Union.
Source: Stern
Jane Stock is a technology author, who has written for 24 Hours World. She writes about the latest in technology news and trends, and is always on the lookout for new and innovative ways to improve his audience’s experience.
