FLASH NEWS
Impact of war in Iran/ Spanish Parliament approves 5 billion euro package to cushion economic blow
2026-03-26 21:54:41 / BOTA
Spain's parliament on Thursday approved a comprehensive package worth 5 billion euros aimed at curbing the economic impact of the war in Iran, including major cuts to energy taxes.
The measures were approved with 175 votes in favor, 33 against and 141 abstentions.
"These measures are designed to protect our productive sectors and the most vulnerable people," Socialist Prime Minister Pedro Sánchez said last week when he unveiled the plan.
The measures include cuts to the value-added tax on gasoline and fuel, which are expected to reduce pump prices by up to 0.3 euros per liter, or approximately 20 euros per tank for an average car.
Additional support includes a direct subsidy of 0.2 euros per liter of fuel for transport operators, farmers, livestock breeders and fishermen, along with lower electricity taxes.
Gasoline prices in Spain rose from 1.8 euros per liter on February 28, when the US-Israeli bombing campaign against Iran began, to 1.8 euros per liter at the weekend.
Sánchez defiantly refused to allow US troops to use its bases to attack Iran at the start of the conflict, a move that drew harsh criticism from US President Donald Trump.
"Every bomb that falls in the Middle East ultimately hits, as we are already seeing, the wallets of our families," Sánchez told parliament on Wednesday.
The European Union's fourth-largest economy has recorded much higher growth rates than its competitors in recent years, thanks in particular to domestic consumption, tourism and exports.
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