The finance ministers of Spain and four other European countries are urging the European Union to impose a bloc-wide windfall tax on energy companies, concerned that surging oil and gas prices driven by the war in Iran will fuel inflation and strain households. “The conflict in the Middle East has caused oil prices to rise, placing a significant burden on the European economy and on European citizens,” the letter, dated Friday and made public by Cuerpo in an online post, said. Driven largely by higher oil prices, the annual inflation rate in the 21 countries that use the euro rose to 2.5% in March, from 1.9% in February.
Published at: 2026-04-04 21:10:45
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