EU Finance Ministers Push for Oil Profit Tax Amid Middle East Crisis

Six European Union member states have called for urgent measures to address the soaring oil company profits due to the conflict in the Middle East. According to a letter obtained by AFP, finance ministers from Germany, Italy, Austria, Poland, Portugal, and Spain requested that the EU impose a new tax on these excessive profits.

The initiative was taken by German Finance Minister Lars Klingbeil, who led the joint request to Ireland's finance minister, currently holding the rotating presidency of the European Union. The ministers have asked for the issue to be placed on the agenda at the next meeting of EU finance ministers in Dublin next month.