Lacson calls on gov't to prepare economic safety nets should Russia invade Ukraine

Presidential candidate and incumbent senator Panfilo Lacson on Sunday called on the government to have safety nets ready to protect Filipinos from the possible effects on the economy should Russia invade Ukraine.

Lacson, chairman of the Senate Committee on National Defense and Security, said the invasion of Ukraine, if it occurs, may have adverse effects which will be felt worldwide.

"We might think that Ukraine is far away, and that there is no danger for the Philippines. We are all living in a global village. An invasion of Ukraine may adversely affect the stock markets all over the world. Prices of basic commodities and fuel may increase. We need to be prepared for this, not to mention that we are still suffering from the pandemic and are far from economic recovery," he said in a statement.

"We hope that there are contingency plans for increases in prices, disruptions in supply chains and possible repatriation of Filipinos not just in Ukraine but in neighboring countries," Lacson added.

Russia has amassed 100,000 troops near Ukraine, saying it had to provide its own security against aggression by NATO allies.

US President Joe Biden told Russia's Vladimir Putin in a phone call on Saturday that the West would respond decisively to any invasion of Ukraine, Reuters reported.

"We're in a window when an invasion could begin at any time, and to be clear, that includes during the Olympics," US Secretary of State Antony Blinken said.

Lacson also asked if the government has already begun preparing to assist Filipinos in Ukraine "in the event that war breaks out."

Philippine diplomats in Warsaw, Poland have already reached out to nearly 400 Filipinos in Ukraine and asked them to immediately contact the embassy for any untoward incident in their areas amid reports of an imminent Russian invasion. —KG, GMA News