PM: Helping Ukraine Moral Obligation But It's Hurting Us Economically

Delivering an address to the Congress of Deputies as part of a state of the nation debate, PM Pedro Sanchez states that continuing to help Ukraine is Spain's 'moral obligation', but that the impact of the war is hurting the country economically.

• Says that economic growth will be slower than expected in the coming months.
• Says that the biggest challenge for Spain is tackling inflation, says it is like a 'grave illness' affecting everyone.
• On energy says that "We cannot rule out that Putin decides to cut off gas to Europe as another weapon of war".
• The next general election does not have to take place until November 2023, but Sanchez's Spanish Socialist Workers' Party (PSOE) continues to trail heavily in opinion polls. The main opposition centre-right People's Party (PP) has recorded a surge in support following the election of a new leader in the form of former President of Galicia Alberto Núñez Feijóo.
• Sanchez will need to record a significant turn-around in support in the next 18 months if his leftist coalition is not going to be ousted from power. His PSOE, combined with the leftist Unidas Podemos and a number of regionalist parties would be well short of a majority in the Congress of Deputies based on recent polling.
• However, the PP could team up with the right-wing VOX to form a majority coalition, although the inclusion of VOX could see a major uptick in political risk given the staunch opposition to their presence from regionalist parties across Spain's autonomous communities.