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A special session was called to help mitigate the effects of the Russia-Ukraine conflict.

MANILA, Philippines β€” The chairperson of the House Committee on Economic Affairs joined a request for a special session on Tuesday to examine measures suspending the excise tax on petroleum goods, citing the Philippines as one of the countries most affected by the present conflict between Russia and Ukraine.

The Russia-Ukraine situation, according to AAMBIS-OWA Party-list Representative Sharon Garin, will have a cascading effect on energy and basic commodity prices, as well as numerous companies still recuperating from the impact of the Covid-19 outbreak.

“I support calling a joint special session of Congress and the Senate to debate ways to suspend the oil excise tax. We find ourselves in extraordinary circumstances as a result of the war. That is the fact, because rising oil prices will soon have a cascade effect on the pricing of basic commodities,” Garin added.

She stated that firms are still attempting to regain traction after a two-year economic slowdown.

“Alert Level 1 has been reached, and most businesses are only now recovering to full capacity.” “Targeted relief measures should be expanded rather than being limited to a single industry,” she said.

Garin praised the Development Budget Coordination Committee (DBCC) and the Department of Transportation for their efforts, such as the PHP2.5 billion fund for fuel vouchers for affected sectors and the Department of Agriculture’s PHP500 million budget for farmers and fisherfolk.

“However, it will not suffice. Agriculture industries, which I have fought for since the beginning of my congressional term, would be severely impacted. Oil-powered farm machinery, the cost of shipping commodities, and the overall impact on a sector that is heavily reliant on exports all require quick assistance, she added.

The DBCC said in a statement that the government is prepared to provide targeted relief assistance and support to the impacted sectors, particularly public utility vehicle drivers, farmers, and fisherfolk, in order to mitigate the impact of high costs.

“However, other industries, such as the airline and tourism industries, are disproportionately affected by increased oil costs. They, along with the agriculture business, account for a large portion of the job prospects that have been impacted in the last two years,” she said.

Due to the escalating Russia-Ukraine situation, Deputy Speaker Rufus Rodriguez stated on Monday that there is a more compelling cause to suspend excise taxes on oil products.

“I support my colleagues’ request for a special session. “We must act immediately before crude and domestic fuel costs continue to climb,” Rodriguez added.

According to the Anadolu Agency, a local authority confirmed on Tuesday that Russian strikes on a military unit in northeastern Ukraine killed at least 70 Ukrainian soldiers.

Dmytro Zhyvytskyi, the chief of the Sumy Regional State Administration, verified the deaths, according to Ukraine’s Kyiv Independent News.

In addition, Russian artillery shelled a maternity hospital near Kyiv.

Vitaliy Girin, the hospital’s director, said everyone had been evacuated from the premises in a social media post.

On Tuesday, Moscow’s campaign against Ukraine entered its sixth day.

The international world has reacted angrily to the war, with the European Union, the United Kingdom, Japan, and the United States imposing a slew of economic sanctions on Russia.

According to UN officials, at least 102 civilians have been murdered in Ukraine so far, with more than 500,000 more fleeing the nation.

According to Ukraine, over 350 civilians have been killed and over 1,600 have been injured as a result of Russian forces’ strikes.

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