Brussels, Aug. 23 -- Finance ministers from six European union countries have renewed calls for a bloc-wide excess profit tax on oil companies, arguing that soaring fuel prices and the wider cost-of-living crisis require coordinated action across the EU.
Oil companies' "excessive profits" are linked to price hikes caused by the US-Israeli war on Iran, several media outlets reported, citing a joint letter from the countries' finance ministers.
Finance ministers from Germany, Italy, Austria, Poland and Portugal, along with Spain's economy minister, sent a joint letter to Ireland's finance minister, whose country currently holds the rotating EU Council presidency. The ministers urged that an EU-wide levy be placed on the agenda for the bloc'...