The European Commission announced that it has sanctioned €128 million ($139 million) in state aid from Sweden to assist steelmaker SSAB in its decarbonisation efforts.
The Commission stated that this funding will aid in reaching the objectives outlined in the European Green Deal and the Green Deal Industrial Plan, while also working to reduce reliance on Russian fossil fuels and expedite the green transition.
The EU’s Green Deal Industrial Plan aims to maintain the European Union’s competitiveness in the green technology sector and counter substantial subsidies from the United States and China.
