June 29 (SeeNews) - The European Commission (EC) said that it has approved a 60.7 million euro ($63.8 million) Romanian funding scheme to support companies active in road transport of goods and passengers in the context of the Russian war on Ukraine.
The support scheme was approved under the state aid temporary framework adopted by the Commission, the EU's executive body said in a press release on Tuesday.
"With this 60.7 million euro scheme, Romania will support the road transport sector severely affected by the fuel prices increase caused by the current geopolitical crisis and the related sanctions. This is an important step to mitigate the economic impact of Putin's war against Ukraine. We continue to stand with Ukraine and its people," Commission executive vice-president in charge of competition policy Margrethe Vestager said.
The support measure will be open to companies of all sizes active in road transport of goods and people with a valid community license that are affected by the current crisis. Under the scheme, the beneficiaries will be entitled to receive limited amounts of aid in the form of direct grants.
($=0.9509 euro)