Six countries want EU talks in September on taxing windfall profits of oil companies
The ministers said current measures have not curbed prices and urged a common EU approach to make crisis profits help consumers.
- 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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110 Articles
Portugal and Five More EU Countries Call for European Debate on the Extraordinary Profits Tax on Oil
Six finance ministers sent a letter to the Irish Presidency of the Council asking for the subject to be discussed at the informal meeting in Dublin in September.
Portugal and five other Member States of the European Union (EU) called on Ireland, which holds the rotating presidency of the Council, to discuss a new European mechanism to tax the extraordinary profits of oil companies, recovering a previous proposal.
With Germany, Poland, Italy, Austria and Portugal, he sent a second letter calling for a debate on the question to be held in September.
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.
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