ANNOUNCEMENT 27 Nov 2014In November 2014, the governments of Estonia, Latvia & Lithuania announced a change in private-sector financial support.
NUMBER OF INTERVENTIONS
EC regulation 1263/2014
On 27 November 2014, the European Commission announced regulation 1263/2014 granting additional state aid to Estonian, Latvian and Lithuanian milk producers affected by the Russian import ban of milk from the EU. The aid worth 28.66 million EUR shall be distributed by 30 April 2015. Most of the aid (14.07 million EUR) shall be given to Lithuania; whereas Estonia and Latvia shall each receive 6.87 and 7.72 million EUR.
The regulation came into force on 30 November 2014.
Despite the import ban by Russia, the country has been added as an affected trading partner as it was one of the key export markets of Latvian and Lithuanian milk in 2013.
The GTA includes state guarantees and other financial incentives that are likely to affect the restructuring and performance of firms facing international competition, whether from imports, in export markets, and from foreign subsidiaries.