23 September 2022
The European Commission has approved a €20 million Greek scheme to support newspaper and magazine publishers in the context of Russia’s invasion of Ukraine. The scheme was approved under the State Aid Temporary Crisis Framework, adopted by the Commission on 23 March 2022 and amended on 20 July 2022.
Under the scheme, the aid will take form of direct grants. The purpose of the scheme is to support newspaper and magazine publishers that face increasing transportation and paper costs due to the current geopolitical crisis and the subsequent sanctions and countersanctions.
The Commission found that the Greek scheme is in line with the conditions set out in the Temporary Crisis Framework. In particular, the aid (i) will not exceed €500,000 per company; and (ii) will be granted no later than 31 December 2022.
The Commission concluded that the scheme is necessary, appropriate and proportionate to remedy a serious disturbance in the economy of a Member State, in line with Article 107(3)(b) TFEU and the conditions set out in the Temporary Crisis Framework. On this basis, the Commission approved the scheme under EU State aid rules. More information on the Temporary Crisis Framework and other actions taken by the Commission to address the economic impact of Russia’s invasion of Ukraine can be found here.
The non-confidential version of the decision will be made available under the number SA.104056 in the State aid register on the Commission’s competition website once any confidentiality issues have been resolved.