Six member states reportedly want energy companies benefiting from soaring prices to help ease the cost-of-living burden
Six EU nations want the bloc to introduce a windfall tax on oil companies’ “excessive profits” linked to price hikes caused by the US-Israeli war on Iran, several media outlets reported on Saturday, citing a joint letter from the countries’ finance ministers.
Oil prices have repeatedly topped $100 per barrel this year due to the ongoing conflict in the Middle East and the closure of the Strait of Hormuz, which handles around a quarter of the world’s seaborne oil and LNG trade.
Global crude benchmark Brent futures reached $102…
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