Six countries want EU talks in September on taxing windfall profits of oil companies
Ministers say refined-product margins are rising faster than crude prices and want a common EU framework to tax crisis profits.
- On Monday, six European Union countries requested the bloc discuss a mechanism to tax windfall profits from oil companies, citing Iran's blockade of the Strait of Hormuz.
- Germany, Spain, Portugal, Italy, Poland, and Austria wrote that global supply shocks are causing discontent worldwide, making a common approach necessary to protect citizens and businesses from rising costs.
- The proposed EU-wide framework targets foreign earnings of oil companies, while ministers also called for a European investigation into refiners' margins to prevent price spikes.
- Ireland, holding the rotating presidency of the European Union, received the letter requesting the windfall tax issue be added to the agenda for the Dublin finance ministers' meeting September 18 to 19.
- Since the war on Iran began February 28, European diesel prices have risen more than 70% while gasoline climbed around 20%, underscoring the urgency of the windfall tax proposal.
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Six countries want EU talks in September on taxing windfall profits of oil companies
Six European Union countries want the 27-nation EU to discuss in September a mechanism to tax windfall profits of oil companies triggered by Iran's blockade of the Strait of Hormuz, a letter by their finance ministers showed on Monday.
6 countries want EU talks on taxing windfall oil profits
Six European Union countries want the 27-nation EU to discuss in September a mechanism to tax windfall profits of oil companies triggered by Iran's blockade of the Strait of Hormuz, a letter by their finance ministers showed today.
Italy and five other countries have asked the European Union again, and then Elly Schlein has asked the government to do so immediately at national level.
The governments of Germany, Italy, Austria, Poland and Portugal want to discuss an exceptional levy on the profits of energy companies at the next meeting of EU Finance Ministers.
The finance ministers of Germany, Italy, Austria, Poland, Portugal and Spain are asking the Irish EU presidency to start the discussion on the oil tax in September. The post Six EU states call for the introduction of a one-off tax on oil companies to mitigate the impact of the war appeared first on in.gr.
They call for this debate to be included in the next meeting of the Ministers for Economic Affairs and Finance on 18 and 19 September.
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