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ARTICLE · 27 DECEMBER 2022

Foreign Subsidies Regulation Adopted

ELVINGER HOSS PRUSSEN, société anonyme
Explore more from ELVINGER HOSS PRUSSEN, société anonyme

The Regulation on foreign subsidies distorting the internal market ("FSR"), a new EU tool aimed at preventing foreign subsidies from distorting competition in the internal market, was adopted on 28 November 2022.

LuxembourgGovernment, Public Sector
Elvinger Hoss Prussen
Elvinger Hoss Prussen

The Regulation on foreign subsidies distorting the internal market ("FSR"), a new EU tool aimed at preventing foreign subsidies from distorting competition in the internal market, was adopted on 28 November 2022.

What is it about? At present, subsidies granted by Member States must comply with stringent EU state aid rules, but there is no EU instrument to control similar subsidies granted by non-EU countries. The FSR aims to address distortions created by financial contributions that are granted by non-EU countries to companies active in the EU single market. It lays down the procedural rules for the European Commission to investigate such contributions in the context of large concentrations and bids in large public procurement procedures. The Commission is also granted powers to redress these distortions.

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