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Germany, Italy and Four Other Countries Urge EU to Discuss Windfall Tax on Oil Companies in Sep
2026-08-24 17:02:09 Reuters, citing a letter signed by the finance ministers of six EU countries, reported that Germany, Spain, Portugal, Italy, Poland and Austria have requested Ireland, the rotating president of the European Union, to place the proposal of imposing a windfall tax on oil companies on the agenda of a meeting to be held in Dublin from September 18 to 19. The six countries stated in the letter that the European Union is experiencing one of the biggest oil supply shocks in decades, and measures adopted by governments so far are insufficient to permanently reduce or stabilize the prices faced by businesses and citizens. Therefore, there is a need to establish a framework for taxing the unexpected windfall profits of oil companies to address high energy prices. Since the US-Iran war on February 28, oil prices have risen about 25%, while refined oil product prices have climbed even more sharply. Diesel prices in Europe have surged more than 70%, while gasoline prices have increased about 20%. (mn/u)~ AASTOCKS Financial News Website: www.aastocks.com This article was automatically translated by AI, the Chinese version should be considered the authoritative version. AASTOCKS.com Limited does not guarantee its accuracy or completeness and accepts no liability for any damages or losses arising from the use of this translation. | |