EU Commission extends part of easier state aid rules to end-June 2024

FILE PHOTO: European Union flags fly outside the EU Commission headquarters in Brussels, Belgium September 19, 2019. REUTERS/Yves Herman/File Photo/File Photo

BRUSSELS (Reuters) -The European Commission on Monday said it would extend a loosening of state aid rules by three more months than initially planned, to end June 2024, to allow EU countries to compensate companies for high energy prices resulting from Russia's invasion of Ukraine and tensions in the Middle East.

The EU executive relaxed its state aid rules in March last year after thousands of companies were hit by the war in Ukraine, saying the easier regime would end in December this year.