April 9, 2026Five EU countries call for windfall tax on energy firms amid Iran crisis: what the sector warns

Europe
Five EU countries call for windfall tax on energy firms amid Iran crisis: what the sector warns

Spain, Germany, Italy, Austria and Portugal are urging the European Union (EU) to introduce a new windfall tax on extraordinary profits in the energy sector following the impact of the war in Iran. The proposal comes amid a global crisis that, according to the International Energy Agency (IEA), has already surpassed the severity of those seen in 1973, 1979 and 2022.