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The European Commission approves state aid worth 126 million euros for Romanian ports
The European Commission approved, on Thursday, a scheme notified by Romania worth 126 million euros to support investments in ports, where trade flows have increased suddenly. The plan to grant state aid to the Danube and the Black Sea aims to prevent blockages on the route of the EU-Ukraine solidarity corridors.
According to a EC press release, the measure facilitates commercial flows to and from Ukraine, in accordance with the objectives of the EU action plan for solidarity corridors.
“This scheme worth 126 million euros will allow Romania to reduce the blockages created by the sudden increase in the volume of goods arriving at the ports on the Danube and the Black Sea. The aid will support port operators to process and store goods awaiting their turn, thus reducing the bottleneck caused by Russia’s war against Ukraine. This will contribute to the EU’s action plan for solidarity corridors, without unduly distorting competition in the single market”, said European Commission Vice-President Margrethe Vestager.
Romania has notified the Commission of its plans to support businesses operating in certain Romanian ports to invest in additional handling or storage facilities to process goods that have been diverted from their normal trade routes due to Russia’s war against Ukraine and the impossibility to use Ukraine’s direct sea export routes. The scheme, with a budget of 126 million euros (approximately 626 million lei), will run until December 31, 2024.