The European Commission on Tuesday said it had approved 400 million euros ($423.9 million) in state aid by Bulgaria to its state gas company Bulgargaz EAD, the exclusive public supplier of natural gas in the country.

The European Commission said the subsidized loan granted to Bulgargaz was in line with the regulations for aid to companies hit by Russia’s invasion of Ukraine.

Last year, Russia’s energy giant Gazprom suspended Bulgargaz’ long-term contract, which covered 90% of the quantities of natural gas delivered by Bulgargaz to customers.
Source: Reuters (Reporting by Charlotte Van Campenhout, editing by Bart Meijer)