Several countries led by Germany called on Friday for a European tax on oil companies’ windfall profits. The push came during a ministerial meeting in Dublin. German Finance Minister Lars Klingbeil said he expects the European Commission to finally propose such a tax. He criticized Brussels for its reluctance.
Germany, Italy, Austria, Poland, and Portugal, along with Spain, had already demanded the tax in August. Some had called for it in April. Oil companies’ profits have soared since the US and Israel launched war against Iran in February. Traffic in the Strait of Hormuz has dropped. These states want the tax to help consumers and businesses facing high energy prices.
Their requests have gone unanswered. The Commission deflected again on Friday. Commissioner Valdis Dombrovskis said member states “can already introduce a tax on exceptional profits if they want to.” France’s economy minister said any EU measure could not be “uniform.” He insisted: “This shock affects us all, but it affects each of us differently.”
Irish Finance Minister Simon Harris, whose country holds the EU presidency, said the best fix for high fuel prices is “de-escalation in the Middle East and the reopening of the Strait of Hormuz.”
Reference
Le Monde, “L’Allemagne veut une taxe européenne sur les superprofits des groupes pétroliers pour compenser la hausse des prix de l’énergie,” published September 18, 2026. https://www.lemonde.fr/planete/article/2026/09/18/face-a-la-crise-energetique-l-allemagne-plaide-pour-une-taxe-europeenne-sur-les-superprofits-petroliers_6776775_3244.html