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The Economic Times

Global Business / The Economic Times

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Six EU countries urge windfall tax on energy firms

Six EU nations are urging a bloc-wide windfall tax on oil companies. Profits have surged due to the ongoing Middle East war and rising costs. Ministers want this levy discussed at an upcoming meeting of finance chiefs. They cite lessons learned from a similar measure introduced in 2022. Germany's finance minister believes excessive profits must be returned to consumers.

22 Aug 2026 8:20 pm