Six European Union countries, including Italy, are calling for the creation of a community tax on the windfall profits of oil companies, which have soared due to the war in the Middle East. The request is contained in a joint letter sent to the Finance Minister of Ireland, the country holding the rotating presidency of the bloc, and seen by the AFP news agency, according to the newspaper Il Sole 24 Ore.
The document is signed by the finance ministers of Germany, Italy, Austria, Poland, and Portugal, as well as the Spanish economy minister. The initiative reportedly came from the German minister, Lars Klingbeil. The ministers are requesting that the topic be included on the agenda of the bloc's finance ministers' meeting in Dublin next month and are advocating for a discussion of a European framework for taxing excess profits, building on the experience of a similar measure adopted in 2022 following the Russian invasion of Ukraine.
“Oil companies are seeing profitability and margins above the rise in crude oil prices,” the letter says. Energy companies' profits have risen since the United States and Israel launched the war against Iran in February, restricting traffic through the Strait of Hormuz. The EU has not yet signaled any intention to create the tax. There is division within the German government: Klingbeil's SPD supports it, while Chancellor Friedrich Merz's CDU opposes it.
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Read the original article in Italian in the newspaper. Il Sole 24 Ore .
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