The blockade of Hormuz will cost the Basque Country EUR 200 million in energy, according to the Basque Government
Industry Advisor Mikel Jauregi has stated that industry is "the sector that is suffering the most from the effects of the energy crisis."
The Industry Advisor of the Basque Government Mikel Jauregi has warned that the "energy crisis"caused by the blockadeof the Strait of Hormuz has cost the Basque Country EUR 200 million, "equivalent to the construction of two hospitals in Toulouse", and has warned that the situation in the Middle East "is not improving".
Jáuregui participated in the meeting of the Basque Industry Council held today, Monday, in Zamudio (Bizkaia), which brought together representatives of the industrial sectors, business associations and various Basque institutions.
"Our way is to create more industry and a better industry."
During the meeting, the Councillor stated that the industry is "the sector that is suffering the most from the effects of the energy crisis".
However, he points out that "despitethe global geopolitical uncertainty and economic weakness of Europe — the destination of two-thirds of our exports — the Basque industry is showing remarkable resilience, with a historic commitment to innovation and the promotion of industrial employment. "
He said, "Faced with this reality, there are no magic rods. Our way is to create more industry, make better industry and reduce emissions. We also need more cooperation and less bureaucracy."
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