The most important events and reports on the economy, central banks and politics from the Dow Jones Newswires program
Spain waives VAT on basic foodstuffs for six months
In response to the rising cost of living, the Spanish government wants to relieve the population with a new package of measures worth 10 billion euros. Spain’s Prime Minister Pedro Sánchez said at a press conference that VAT on staple foods such as bread, milk, cheese, fruit, vegetables and cereals should be abolished at 4 percent for the next six months. For oil and pasta, the VAT rate should be reduced from 10 to 5 percent.
From February, Russia will ban oil exports to countries with an oil price cap
From February 1, Russia will ban the sale of oil to countries that have imposed an oil price cap in response to the Russian offensive in Ukraine. “The supply of Russian oil and Russian oil products to foreign legal entities and other private individuals is prohibited” if they apply the price cap, the president said in a Tuesday statement Wladimir Putin signed decree.
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(END) Dow Jones Newswires
December 27, 2022 13:00 ET (18:00 GMT)