Brussels, April 4 -- The finance ministers of Spain, Germany, Italy, Portugal and Austria have urged the European union to impose a bloc-wide windfall tax on energy companies amid the global surge in oil and gas prices, due to the joint US-Israel war against Iran.
In a letter to the European Commission, the five ministers said the conflict in West Asia is "placing a significant burden on the European economy and on European citizens.""It is important to ensure that this burden is distributed fairly," said the letter, dated Friday and made public by Spain's Economy Minister, Carlos Cuerpo, on Saturday.
Europe is largely dependent on energy imports for its oil and gas supply, and as such it is extremely susceptible to external shocks in the...