15.03.2022

Deputy Prime Minister and Minister of Finance Assen Vassilev took part in the regular meeting of the ECOFIN Council in Brussels

Deputy Prime Minister and Minister of Finance Assen Vassilev took part in the regular meeting of the ECOFIN Council held today in Brussels. The Ministers of Finance discussed the economic consequences of the sanctions against Russia as a result of the military aggression against Ukraine.

“Bulgaria supports the sanctions imposed on the Russian Federation in all areas. We are also ready to discuss the adoption of additional restrictions in order to apply pressure to stop the war against the Ukrainian people. Strong support will continue to be provided to prevent any possibilities to circumvent sanctions. The fiscal response will not be sufficient to overcome the effects on Member States’ national economies. We support the proposal for joint public procurement at EU level for key energy and agricultural goods, which will prevent a situation where Member States bid against each other. In this regard, a coordinated approach is needed that can benefit everyone. The EU must work hard to overcome its energy dependence on Russia”, the Bulgarian Finance Minister said in his statement.

The Council adopted a general approach on the Proposal for a Regulation Establishing a Carbon Border Adjustment Mechanism.

The Council discussed the Proposal for a Directive on Ensuring a Global Minimum Level of Taxation for Multinational Groups in the Union which has been drawn up in accordance with the agreement reached by the OECD Inclusive Framework in October 2021 to address the tax challenges of the digitalisation of the economy.