EU Economy Ministers press to tax energy profits from crisis

A group of European countries has called on the European Commission to impose an extraordinary tax on energy companies profiting from the current crisis caused by the war in Iran.

Finance and economy ministers from several countries, including Germany, Italy and Spain, argue that a similar instrument has already proved its worth during the energy crisis following the Russian invasion of Ukraine.

They argue that an EU-wide tax would help to share the costs of the crisis more fairly, while boosting public confidence.

Proceeds should go to support households and businesses without further burdening state budgets. However, the concrete form of the measure has not yet been decided.

(tasr, mja)