Brussels, Apr 10, 2026 -The EU said Friday it was looking into calls for a tax on windfall profits of energy companies to respond to the surge in prices caused by the Iran war.
The finance ministers of Spain, Austria, Germany, Italy and Portugal urged Brussels take the measure to ease the burden on consumers in a letter published last week.
European Commission spokeswoman Paula Pinho Friday stressed that “a whole range of measures” were on the table, including some adopted in the past.
“We need to see what were the efficient, effective measures that were taken and that would still be suitable, what were those which maybe we should adjust, make more targeted, more limited in time,” Pinho told a press conference in Brussels.
A similar emergency tax was implemented in 2022 to address soaring energy prices following Russia’s invasion of Ukraine.
And on Thursday EU economy chief Valdis Dombrovskis confirmed to European lawmakers that a windfall levy was indeed under consideration.
“Strictly speaking, there is nothing preventing member states from applying this windfall tax because direct taxation is by and large within the competences of member states,” he said.
“We are looking whether we come with some kind of a more coordinated approach at the European level. It’s currently being assessed”.
Oil and gas prices have surged since US-Israeli strikes on Iran began on February 28, resulting in Iran effectively blocking the strategically vital Strait of Hormuz and major to damage to Gulf energy infrastructure.
Prices eased after the announcement of a two-week ceasefire this week, but remain elevated.
