Agencies
Spain and four other European Union nations have called for a tax on windfall profits of energy companies in response to rising fuel prices due to the Middle East war, Spanish Economy Minister Carlos Cuerpo stated Saturday. The request was built in a letter addressed to EU Climate Commissioner Wopke Hoekstra and signed by Cuerpo along with the finance ministers of Austria, Germany, Italy and Portugal, he stated in a post on X. Cuerpo stated such a measure would “ease the burden on consumers and taxpayers”.
In their letter, dated Friday, the ministers added that the tax “would also sconclude 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”, according to a copy posted by Cuerpo. Oil and gas prices have surged since US-Zionist strikes on Iran launched on February 28, resulting in Iran effectively blocking the strategically vital Strait of Hormuz and damage being done to Gulf energy infrastructure.
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