MADRID, March 18 (Reuters) - Russian's invasion of Ukraine laid bare the need for a greater energy independence in Europe as the conflict will reduce global growth and increase inflation, Carlos Torres, the chairman of Spanish lender BBVA BBVA.MC, said on Friday. As of Thursday's close, shares in BBVA had fallen 6.4% since Russia's Feb. 24 invasion of its neighbour, while the European banking index .SX7P has declined 10.8% in the same period. The BBVA chairman said the full impact would depend on the response of monetary, fiscal and regulatory policies.