economy
April 5, 2026
Profiting from war
They emphasized that such a taxation measure would be a signal of unity and readiness to act against the crisis.
TL;DR
- Five EU finance ministers are proposing a tax on extraordinary profits of energy companies.
- The proposal is a response to rising fuel prices attributed to the war with Iran.
- Ministers argue the tax would signal unity and a commitment to action.
- The tax aims to ensure those profiting from the war contribute to easing the burden on citizens.
- J.P. Morgan predicts oil prices could reach $150 per barrel if energy flow through the Strait of Hormuz is disrupted.
- Diesel prices in Europe have hit their highest level since 2022, with futures rising significantly.