Spanish

companies

have a lot at stake in the battle that is taking place between Russia and Ukraine.

It is not only a threat to those that have

a presence

in both countries -such as Inditex, Meliá or Amadeus-, but it also puts in check

the business of nearly 15,000 firms that maintain commercial relations

with those two countries, according to

ICEX.

These are companies - small, medium and large - that

import or export from Russia and Ukraine

and whose activity involves trading with the two countries.

Specifically, according to foreign trade data from the Ministry of Industry, there are a total of

5,432 companies that exchange products with Ukraine

for a value of 3,091.78 million euros;

most of them export (3,777) although the total volume of imports is much higher than that of exports (2,410 million compared to 681).

With

Russia

, the exchanges are more voluminous, of 8,246.89 million euros.

In 2021, a total of

4,981 companies exported products

worth 2,213.6 million euros;

while 4,599 companies from the country of Vladimir Putin bought 6,033.26 million euros from Spanish companies.

Companies

exporting to Ukraine

are mainly from the

automotive

sector ;

of

machines

and mechanical devices;

fish, crustaceans and molluscs

;

chemical products;

ceramic products;

fruit and vegetable preserves;

or clothing.

Although there is also concern on the part of those that

import

, since it could cause shortages of

cereals

(42.2% of what we import to Ukraine);

fats

, animal or vegetable oil;

iron and steel

;

salt, plaster, stones, etc.

To

Russia

we export

machines and mechanical devices

, clothing, vehicles, canned food and plastics;

while we

buy fuels

, mineral oils, iron and steel,

chemical products,

aluminum, waste and fertilizers.

Marta Blanco

, president of

CEOE Internacional

, lamented this Thursday during her participation in a forum that "there are going to be direct effects and induced effects" derived from the conflict, and has called for "

coordination within the EU and outside,

with the US, United Kingdom and Japan when imposing sanctions".

He has also demanded that

the sanctions be clear and transparent

, so that they are not subject to any type of interpretation, because companies have to move in the markets and it is important that there be clarity in the sanctions and their effects.

He refers to the fact that firms must know the regulation as it changes and whether, for example ,

tariffs

are imposed or not, in order to adapt their business or know which market to target.

"

Stability is fundamental",

agreed

Elisa Carbonell,

general director of Internationalization of Companies at

ICEX,

who believes that "we will have to see the indirect impact and the sanctions that are agreed upon. From the Secretary of State for Trade we will accompany companies with information and through the office in Moscow trying to mitigate these impacts for companies," he promised.

The impact of the war, however, also affects the

30 Spanish companies

that are voluntarily registered with the Spanish Economic and Commercial Office in

Kiev

(Ukraine) and the more than

130 registered in Russia,

including renowned as Inditex, Acerinox, Amadeus, Tous, Fluidra or Meliá Hotels International.

In

Ukraine

they are together with

Inditex, Amadeus, Tous,

Lladró, Mayoral, Rocapiel or Teka Industrial;

while in

Russia

, in addition to the textile giant Amancio Ortega,

Acerinox, Cie Automotive, Fluidra,

Gestamp, Grupo Antolín, Grupo Corporativo Fuertes, Iberia, Indra, Tous, Lladró, Meliá Hotels International, Tendam or Viscofan have a presence.

But beyond the impact on those that have a presence and in those that operate, the business community views the conflict with concern, since it believes that it

will affect the entire country due to its dependence on foreign energy.

"

The sanctions imposed on Russia will end up being paid by the companies because they will raise our gas.

We are at a disadvantage there," lamented

Balbino Prieto

, president of Nova Internacional and honorary president of the

Exporters Club

.

Spain "has always had to play

Algeria and Morocco.

If now the gas supply with North Africa is reopened, we would be in a comfortable stage, but we have to follow all this with great attention," he pointed out.

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Know more

  • Ukraine

  • Russia

  • All

  • Inditex Group

  • Companies

GuerraInditex, Acerinox, Amadeus, Tous, Fluidra or Meliá, among the Spanish companies present in Russia and Ukraine

InflationThe Bank of Spain already forecasts an average inflation of 4% in 2022 and asks that salaries not be raised

Russia-UkraineInflation could skyrocket in Spain to a record 6.5% average in 2022 due to the war

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