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BRIEF: EU Ministers See Inflation Major Risk From Ukraine War

EU finance ministers agree that the “major risk” of the Ukraine conflict will be inflation, French Finance Minister Bruno Le Maire told reporters on Wednesday.

“We are looking at an increase of 10% or more, adding around two percentage points to general inflation," he said at a press conference following a meeting of EU finance ministers.

EU Commission Executive Vice President Valdis Dombrovskis said that the impact of the sanctions taken against the Russian financial system would be limited, but that the EU was more exposed on energy.

“We will be longer in a high-inflation environment than we originally thought,” he said.

Le Maire said that the ministers would be “taking stock on a daily basis” of the impact of sanctions taken so far and would take steps to ensure they were not being circumvented by means such as crypto assets.

MNI Brussels Bureau | david.thomas.ext@marketnews.com
Central Bank NewsPolicy NewsEuropean Central BankCEEMEAEurozoneBriefStoryRegion
MNI Brussels Bureau | david.thomas.ext@marketnews.com
Central Bank NewsPolicy NewsEuropean Central BankCEEMEAEurozoneBriefStoryRegion

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