Six European Union countries want the 27-nation EU to discuss in September a mechanism to tax windfall profits of oil companies triggered by Iran‘s blockade of the Strait of Hormuz, a letter by their finance ministers showed on Monday.

Six EU nations are urging a bloc-wide windfall tax on oil companies. Profits have surged due to the ongoing Middle East war and rising costs. Ministers want this levy discussed…

Six European Countries are stepping up calls for a bloc-wide windfall tax on oil companies as profits soar due to the Middle East war, according to a letter seen by AFP.