New Delhi, April 4 -- Five finance ministers from the European Union have called for a tax on windfall profits of energy companies as fuel prices surge due to the ongoing war between the US, Israel and Iran, according to a joint letter sent to the European Commission and seen by Reuters on Saturday.

A windfall tax is a higher, temporary tax imposed by governments on specific companies or sectors that experience unexpectedly large profits due to unforeseen, external events.

The finance ministers of Germany, Italy, Spain, Portugal and Austria made the call in a letter dated Friday, stating that such a measure would be a signal that "we stand united and are able to take action".

"It would also send a clear message that those who profit fr...