THE European Commission has formally approved the sale of Irish Steel to Ispat International by authorising £38.3 million of aid from the Government linked to the sale. The decision follows an agreement by EU industry ministers last December to give exceptional approval for the aid package subject to various conditions. These include limits on its product range and output in the EU, Norway and Switzerland over the next five years. Britain held up approval of the deal but was finally persuaded to agree by an altered investment plan.