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EU Nations Demand Windfall Tax on Energy Firms Amid Rising Inflation

4/4/2026

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Summary

Story summary

Spain, Germany, Italy, Portugal, and Austria push for an EU-wide windfall tax on energy companies.
They warn rising oil and gas prices, driven by the war in Iran, threaten inflation.
Spanish Economy Minister Carlos Cuerpo published a letter to the European Commission calling for fair distribution of economic strain and a new EU-wide contribution instrument.
The eurozone inflation rate rose to 2.5% in March, driven by higher oil prices.

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Story summary

Spain, Germany, Italy, Portugal, and Austria push for an EU-wide windfall tax on energy companies.
They warn rising oil and gas prices, driven by the war in Iran, threaten inflation.
Spanish Economy Minister Carlos Cuerpo published a letter to the European Commission calling for fair distribution of economic strain and a new EU-wide contribution instrument.
The eurozone inflation rate rose to 2.5% in March, driven by higher oil prices.