In a significant development, Spanish Economy Minister Carlos Cuerpo has publicly endorsed the European Commission’s initiative to monetize frozen Russian assets within the EU to support Ukraine’s financial needs. Speaking in an interview with Bloomberg TV on Friday, Cuerpo emphasized Spain’s commitment to maximizing financial assistance for Ukraine. ‘We’ve been advocating for increasing as much as possible the financing for Ukraine,’ he stated, adding that Spain supports exploring ‘creative ways’ to utilize these immobilized assets. This move aligns with broader EU efforts to bolster Ukraine’s economy amidst ongoing geopolitical tensions. Additionally, Cuerpo highlighted Spain’s ongoing efforts to reduce its reliance on Russian liquefied natural gas (LNG) by diversifying energy imports, particularly from the United States. This strategic shift underscores Spain’s alignment with EU energy policies aimed at reducing dependency on Russian resources. The announcement comes as the EU continues to explore innovative financial mechanisms to support Ukraine while addressing energy security concerns within the bloc.
Spain backs EU efforts to use frozen Russian assets, cuts gas imports from Russia
