Five EU countries call for imposition of windfall tax on energy firms European natural gas prices surge over 70%

On the 4th local time, the finance ministers of Germany, Italy, Spain, Portugal, and Austria wrote to the European Commission, stating that due to the rise in oil prices triggered by the Iran situation, they are calling for a windfall tax to be imposed on energy companies' excessive profits. They said that the related tax revenue could provide funds to support temporary relief measures for consumers. It is reported that Europe is highly dependent on imported fuel, and since the outbreak of the US-Iran conflict on February 28th, European natural gas prices have risen by over 70%.