Six European countries have proposed introducing a special tax on oil companies amid a surge in their profits due to the sharp rise in oil prices following the start of the US-Israeli war against Iran, APA reports citing AFP news agency.
According to him, the ministers of economy and finance of Austria, Germany, Spain, Poland, and Portugal sent a letter with this proposal to the head of the Treasury of Ireland, which currently holds the EU Presidency. They propose including the topic on the agenda of the meeting of relevant EU ministers scheduled for September in Dublin.
"Oil companies enjoy high overall profitability globally and generate profits from the sale of petroleum products that exceed the rise in crude oil prices," the text states. The ministers assert that the EU is currently experiencing "one of the most severe supply crises in decades" and note that "discontent with rising living costs is growing worldwide." In this regard, they propose considering the possibility of introducing additional levies on oil companies, similar to the one introduced in 2022, when the special military operation in Ukraine began.
The agency recalls that several European countries called for a tax on oil company profits earlier this year. "However, the EU has so far shown no signs of intending to impose a tax on oil companies," AFP clarifies.
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