EU Discusses Tax on Energy Windfall Profits

The European Union's energy ministers are considering implementing a tax on the windfall profits of energy companies that have surged as a result of the price hikes following the recent conflict in Iran, according to Greek Energy Minister Stavros Papastavrou.

Spanish Energy Minister Sara Aagesen has indicated that five EU countries, including Spain, support this tax initiative. This highlights a growing consensus among member states to address the financial implications of the energy crisis.

The ministers are scheduled to convene in Nicosia on Thursday to deliberate further on this issue, seeking a unified approach to combat the economic challenges posed by the fluctuating energy prices.

(With inputs from agencies.)