On December 14, 2023, the European Parliament and the Council adopted Regulation (EU) 2022/2560 on foreign subsidies distorting the internal market, establishing an investigation and enforcement mechanism for use by the European Commission to remedy the competitive distortions caused by third-party state aid schemes that provide subventions to undertakings operating within the internal market. This brings companies receiving foreign subsidies into compliance with the state aid restrictions currently binding EU member states to ensure a ‘level playing field’.