Five EU countries call for windfall tax on energy companies amid Iran warReutersFive EU countries are calling for a windfall tax on energy companies’ profits in reaction to rising fuel prices due to the Iran war, according to a letter from finance ministers to the EU Commission seen by Reuters on Saturday. The letter gave no details of what level of windfall tax the ministers were proposing, or on which companies it should fall. They included an EU-wide cap on gas prices, a tax on energy companies’ windfall profits, and targets to curb gas demand. Europe’s heavy reliance on imported fuel leaves it exposed to the Middle East conflict’s impact on global energy prices. European gas prices have risen more than 70 percent since Feb. 28.

Source: Taipei Times April 05, 2026 17:13 UTC