EU: Companies hit by sanctions on Russia to get up to €400,000 euros under looser aid rules

The European Commission announced on Wednesday that European companies affected by sanctions imposed on Russia will get up to 400,000 euros under looser state aid rules, as reported by Reuters.

Additional takeaways

"Companies in agriculture, fisheries, aquaculture can get up to 35,000 euros."

"Companies facing cash crunch can get state guarantees on loans, subsidised loans."

"Companies facing high energy costs can get state aid up to 30% of costs, capped at 2 million euros."

Market reaction

This announcement doesn't seem to be helping the market mood improve and the Euro Stoxx 600 Index was last seen losing 0.2% on a daily basis.