Five European Union finance ministers are calling for a tax on windfall profits of energy companies in reaction to rising fuel prices due to the Iran war, according to a letter from the ministers to the EU Commission seen by Reuters on Saturday. The finance ministers of Germany, Italy, Spain, Portugal and Austria made the joint call in a letter dated Friday, saying such a measure would be a signal that "we stand united and are able to take action". "It would also send a clear message that those who profit from the consequences of the war must do their part to ease the burden on the general public," they wrote.

Source: The Telegraph April 04, 2026 10:16 UTC