The 27 seek to limit the effects of sanctions against Russia on the EU economy

Ukrainian flags fly alongside EU flags outside the European Parliament in Strasbourg, March 8, 2022. AFP - FREDERICK FLORIN

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The 27 European Ministers of Economy and Finance have been meeting since Tuesday morning in Brussels with the economic impact of the sanctions imposed on Russia at the center of their work.

They want to limit the consequences for Europe of these sanctions but remain for the moment convinced that the EU economy can withstand the shock.

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With our correspondent in Brussels,

For the 27, the first emergency is again this Tuesday to try to curb the surge in energy prices.

The various governments have started in dispersed order to take national measures such as Belgium which announced a reduction in VAT on gas and a reduction in excise duties on fuel and in Germany the debate is raging for reductions taxes of a similar type.

But the ministers agreed on Tuesday for “

” measures to support the economy and consumers.

The principle is not to commit to tax reductions on a European scale, no general reduction in VAT for example, but new loans guaranteed by the States or even direct aid for companies that consume a lot of energy. fossils.

But the priority now is also to finally ensure

However, the 27 say they are determined to firmly apply the sanctions, specifically the last wave formally adopted on Tuesday, for example with the withdrawal from Russia of the most favored nation clause, which will in particular allow the imposition of punitive customs to Russian exports.

►Also read: EU: a summit in Versailles to discuss Russian gas and ties with Ukraine

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• European Union

• Economy

• Ukraine

• Russia