Spanish Economy Minister Carlos Cuerpo lauded the country’s energy resilience to the Iran war, saying a pivot to solar and wind power has shielded Madrid from the worst impacts of the resulting energy shock.
His comments come at a time when Spain’s government has emerged as one of the European Union’s leading critics of the U.S.-Israel war against Iran, with Prime Minister Pedro Sánchez having described the ongoing Middle East crisis as a “disaster.”
U.S. President Donald Trump pledged to cut off trade with Madrid after Spain prevented two jointly operated bases in its territory from being used in strikes against Iran.
Speaking to CNBC’s Karen Tso on Thursday, Cuerpo said that Spain had been better prepared for this crisis, pointing out that the country has been the fastest-growing advanced economy in Europe over the last couple of years.
Spain also created 40% of all new jobs in the euro zone last year, Cuerpo said, while noting that on budgetary terms, the country’s debt has nearly returned to pre-Covid levels.
