European ministers call for profit caps on energy companies as Iran war drives price surge
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The finance ministers of Spain and four other European countries are urging the European Union to impose a bloc-wide windfall tax on energy companies, concerned that surging oil and gas prices driven by the war in Iran will fuel inflation and strain households. Spanish Economy Minister Carlos Cuerpo said Saturday that his counterparts from Germany, Italy, Portugal and Austria had signed a letter to the European Commission citing “market distortions” caused by the price spike. “The conflict in
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