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Spain's cabinet passes $5.8 billion economic support package to counter Iran war impact

ReutersMar 20, 2026 12:34 PM

- Spain's cabinet has approved 80 measures split into two packages that will cost 5 billion euros ($5.79 billion) to counter the economic effects of the Middle East conflict, Prime Minister Pedro Sanchez said on Friday.

The measures, which require approval by Congress, include support for the most vulnerable households and a reduction of taxes on electricity by up to 60%, Sanchez said, adding the measures will provide cost savings of 200 million euros for industries with intensive energy use.

($1 = 0.8640 euros)

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