The European Commission approved on Tuesday a €20 billion scheme aimed at helping the companies in Germany mitigate the impact of the armed conflict in Ukraine.
The aid will be available to all companies regardless of their size or sector, apart from financial firms, which will be excluded from the measure, the commission said in a statement.
"With this up to €20 billion scheme, Germany will support companies across all sectors affected by the current crisis and the related sanctions. This is an important step to mitigate the economic impact of Putin's war against Ukraine," European Commission Executive Vice-President Margrethe Vestager said.