(ANSA) - BRUSSELS, MARCH 06 - The European Commission has approved, on the basis of EU rules on state aid, a modification to an existing Italian guarantee scheme, with also an increase of the budget up to 3 billion euros, for the reinsurance of the risk of natural gas and electricity trade credit in the context of Russia's war against Ukraine.
The European executive announces it in a note.
The modified regime, according to the Commission, "will help manage the economic impact of the current crisis in Italy" and is "necessary, appropriate and proportionate to remedy a serious disturbance in the economy".
(HANDLE).
