Brussels (UrduPoint / Pakistan Point News / WAM – 04 April 2026) Five European Union Finance ministers are calling for a tax on energy companies’ windfall profits as a response to rising fuel prices Prices because of Iran War, according to a message from European Commission ministers interviewed by Reuters on Saturday.
German finance ministers, Italy, Spain, Portugal and Austria They made the joint call in a letter dated Friday, saying such action would be a signal “that we stand united and able to take action.”
“It will also send a clear message that those who benefit from The consequences of war, they wrote, should do their part to ease the burden on the general public.
In the letter to EU Climate Commissioner Wopke Hoekstra, ministers pointed to a similar emergency tax in 2022 to address high energy prices.
“Given the current market “Given financial distortions and constraints, the European Commission must quickly develop a similar EU-wide contribution instrument based on a solid legal foundation,” they wrote.
Largely driven by the top oil Prices, annual inflation rates in 21 countries are used euro It rose to 2.5% in He walks, from 1.9% in February.
Iran blocked most tankers passage Through the Strait of Hormuz, which is a transit point for about 20% of the world’s ships oil and gas – In a move that threatens to put pressure on fuel Markets For several months.
EU Energy Commissioner Dan Jorgensen warned this week that the disruption caused by the lockdown means fuel prices are unlikely to “return to normal in the foreseeable future”.