A draft letter seen by AFP shows Germany, Italy, Austria, Poland and Portugal's finance ministers, joined by Spain's economy minister, asked Ireland's finance minister to place an EU-wide windfall tax on oil companies on the agenda for next month's E

2026-08-23

A draft letter seen by AFP shows Germany, Italy, Austria, Poland and Portugal's finance ministers, joined by Spain's economy minister, asked Ireland's finance minister to place an EU-wide windfall tax on oil companies on the agenda for next month's EU finance ministers meeting in Dublin. The letter says oil firms' overall profitability and refined-product margins have risen beyond crude-price gains amid one of the most severe supply shocks in decades, and urges discussion of an EU-wide windfall tax framework drawing on the temporary tax measures used after the 2022 Russia-Ukraine conflict.