Five European Union finance ministers have called for a tax on excess profits made by energy companies in response to the sharp rise in fuel prices triggered by the war in Iran, according to a letter to the European Commission seen by Reuters.
The finance ministers of Germany, Italy, Spain, Portugal and Austria signed the letter, dated Friday, arguing that such a move would demonstrate that “we stand united and are capable of taking action”.
“It would also send a clear message that those who benefit from the consequences of the war should help ease the burden borne by the wider public,” they wrote.