The Government will take measures to mitigate the economic impact of the war

Nadia CalvinVice President of Economic Affairs, stated this Monday in Barcelona that The Government will adopt the necessary measures “to cushion the negative impact” of the war in Ukraine in the Spanish economy.

Speaking to the media at the Mobile World Congress, Calviño pointed out that Spain “is one of the European countries least exposed to conflict”, both from a commercial point of view and from an energy dependency point of view.

However, has recognized that “there is no doubt” that it is a serious conflict that will affect all economic activityfor which he has urged the European Union to take measures to boost economic growth and has pointed out that measures will also be adopted at the national level to “cushion” the impact of rising raw material and energy prices.

The vice-president has also considered that the current moment is “key to be able to put an end as soon as possible” to the war in Ukraine, which constitutes an attack on “democratic principles”.

The European Union “is giving a forceful response” to “Putin’s war”, with the aim that the conflict ends “as soon as possible”.

The vice president has reviewed the sanctions that the European Union has adopted in recent days, such as the freezing of the reserves of the Russian central bank in the European Union, the restriction of access to European capital markets of Russian public companies or the process expulsion of some banks from the Swift system.

Other sanctions, he recalled, are those that directly affect individuals or transport, with the closure of European airspace for Russian aircraft, and he stressed that Spain leads the imposition of restrictions on maritime transport.

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