The war in Ukraine caused panic on the Bulgarian capital market

The war in Ukraine caused panic on the Bulgarian capital market

Sofia bourse's SOFIX index fell 7.6% to 533.29 after 1 hour of trading on March 7. This is the biggest drop for the last 9 months. It surpassed the previous low on January 11, 2021, when SOFIX fell to 650.71 points, reported.

European bourses opened in the dark red in anticipation of a possible EU ban on Russian oil imports.

“Sanctions and the war in Ukraine affect the economy unpredictably - Innovation and Growth Minister Daniel Lorer told an economic forum in Varna. - I only dare say that they will speed the transition of Europe to alternative energy sources.”

According to Lorer, cutting off Russian gas supplies would be the last instrument of sanctions.

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