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Five EU finance ministers call for tax on energy companies' windfall profits: Reuters
The ministers said a 2022-style levy could ease market distortions as European gas prices have risen more than 70% since Feb. 28.
- On Friday, finance ministers from Germany, Italy, Spain, Portugal, and Austria urged the European Commission to implement an EU-wide windfall tax on energy companies, citing rising fuel prices.
- European gas prices have surged more than 70% since US-Israeli strikes on Iran began Feb 28, leaving Europe exposed to Middle East conflict impacts on global energy markets.
- Writing to Climate Commissioner Wopke Hoekstra, the ministers referenced 2022 emergency measures and stated a new instrument would signal that "we stand united and are able to take action."
- EU Energy Commissioner Dan Jorgensen said on Tuesday that Brussels is considering reviving 2022 energy crisis measures while assessing risks to refined petroleum supplies like diesel and jet fuel.
- Although requesting action, the ministers' letter provided no specifics regarding tax levels or target companies, leaving the European Commission to determine the scope of any EU-wide contribution instrument.
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Spain and four other European Union (EU) countries have called for a tax on windfall profits from energy companies, Spanish Economy Minister Carlos Cuerpo said on Saturday.
·Vilnius, Lithuania
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Five EU nations urge tax on energy firms' windfall profits
Spain and four other European Union nations have called for a tax on windfall profits of energy companies in response to rising fuel prices due to the Middle East war, Spanish Economy Minister Carlos Cuerpo said Saturday.
·Germany
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The Ministers of Economics and Trade in Spain, Germany, Italy, Portugal and Austria requested the European Commission, by letter published on Saturday, a tax on the benefits of energy companies, to distribute "in an equitable manner"...
·Romania
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Coverage Details
Total News Sources60
Leaning Left8Leaning Right9Center20Last UpdatedBias Distribution54% Center
Bias Distribution
- 54% of the sources are Center
54% Center
L 22%
C 54%
R 24%
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