HomeEconomyUkraine-Russia crisis: The Ministry of Economy is preparing to assist impacted companies

Ukraine-Russia crisis: The Ministry of Economy is preparing to assist impacted companies

Nadia Fettah Alaoui’s department has launched an operation aimed at helping companies directly affected by the crisis between the two countries by offering them support and priority government aid.

In an internal note, the Minister of Economy and Finance, Nadia Fettah Alaoui, called on the various departments of her ministry to ensure that the impact of the crisis between Ukraine and Russia on citizens and national companies that carry out an activity in one of the two countries.

The Minister called on her collaborators to identify the operators affected, by updating their database of companies having economic activities with Russia and Ukraine, and by providing indications on their sector of activity and the financial impact. of the crisis, the document says.

These different departments and directorates within the ministry will also be responsible for setting up an information and communication unit in order to popularize information among these target people and companies. It will be a question of communicating around the measures and possibilities offered to the operators and citizens concerned to deal with the crisis.

Nadia Fettah Alaoui’s services are also called upon to “prioritize” these operators affected by the crisis between Ukraine and Russia so that they have access to the force support mechanisms. Finally, their mission will be to respond to requests from Moroccan operators operating in the countries mentioned.

The services concerned are called upon to “take all measures and issue all directives for the implementation of the above, taking into account the national interest and that of the operators in question, and this, in consultation with all relevant organizations and representatives of the private sector,” she said.

Economic operators operating in Russia or Ukraine, or having commercial relations with these two countries are likely to see their activities decline due to the ongoing conflict, the duration of which remains indefinite.

Their financial operations in the event of supplies from Moscow or kyiv or in the opposite direction in the case of the export of Moroccan products, risk being impacted by the instability of the situation.

Moreover, the Western sanctions which weigh on Russia in particular will complicate the flow of trade with this country. These sanctions include the shutdown of the SWIFT secure international interbank money transfer service and the transaction ban on 7 banks also subject to an asset freeze, including the second Russian bank VTB.




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