Five EU member states are calling for measures to tax the profits of energy companies. The proposal aims to reduce the economic burden on citizens.

The economy ministers from five member states of the European Union have sent a letter to the European Commissioner for Climate, Wopke Hoekstra, highlighting the impact of the conflict in the Middle East on rising oil prices, a considerable burden for the European economy and its citizens. In this context, they propose that the European Executive establish measures for taxing the extraordinary profits of energy companies through a contribution instrument at the EU level, supported by a solid legal basis. The ministers remind that, in 2022, a similar instrument was introduced as an emergency measure to address high energy prices caused by the Russian invasion of Ukraine. They also suggest that profits earned abroad by multinational oil companies could be included in a more specific way in this contribution. This European solution would allow for the financing of temporary aid for consumers and would mitigate inflation without imposing additional burdens on public budgets. The ministers emphasize that it is essential for those who benefit from the war to contribute to alleviating the burden on the population. The European Commission has promised to quickly analyze the proposal, according to the ministers' statements.