Each pill has its side effect. Against the war in Ukraine led by Vladimir Putin, France and the European Union are prescribing a good dose of economic sanctions: two sets of measures have so far been decided, and the European Council is preparing a third “as a matter of urgency”, while that Russia is trying to take control of Kiev.
What consequences will these sanctions have on the portfolio of the French? Before entering into a meeting with European finance ministers, Bruno Le Maire acknowledged on Friday that these restrictions might affect “some French companies”, while ensuring that “French households” had no “concerns to have “.
“Russia is a secondary economic partner of France,” repeated the Minister of Economy and Finance, the day following consultations with several business federations, including the automotive, nuclear and aeronautical sectors. France is “little exposed” to Russia, according to him.
Purchasing power fears
However, some companies fear having to suffer the consequences of this rise in tension, like Safran with titanium, a material used in aircraft landing gear or in the fuselage. More generally, companies fear a potential surge in the prices of raw materials including aluminum, steel, oil and gas imported by Russia, while inflation is at its highest in France since 2008.
Commodities, which ignited on Thursday, remain this Friday at a high level: the barrel of Brent from the North Sea was still evolving above 100 dollars, the American WTI, which had also exceeded this symbolic cap, was around $95. Aluminum and wheat also evolved at high levels, remaining however far from their peak the day before.
For Bruno Le Maire, the only “strategic economic question” concerns gas, the price of which has increased by 40% in four days. Europe is one of the main importers of Russian gas. A subject discussed in Paris on the sidelines of the Council of European Finance Ministers: the Union is nourishing reflections on its energy independence and “medium and long-term” solutions, according to Le Maire.
However, “French households have nothing to worry regarding (regarding gas prices). They will not see this increase in the price of their bills, ”assured the Minister of the Economy, praising the freezing of gas prices in force in France for several weeks following the global economic recovery, and which rules out any additional increase. , immediately.
Presidential candidates enter the field
The presidential candidates immediately engulfed themselves in this theme. Marine Le Pen dangled “potentially terrifying consequences”: “I am paying attention to the nature of the sanctions (…). If we are the victims, it makes no sense, ”she said on Friday on BFMTV.
While affirming his support for the sanctions, the candidate of La France Insoumise Jean-Luc Mélenchon warned once morest increases “in the prices of oil, gas, wheat”. “We will be the main victims,” he warned. This noon, Russia announced replies “to Western sanctions.
