Six EU countries call for a tax on oil companies

The reporter has learned that the finance ministers of six EU member states—Germany, Spain, Portugal, Italy, Poland, and Austria—have jointly addressed a letter to Ireland, the EU rotating presidency, urging that EU member states discuss a mechanism at the EU finance ministers’ meeting in September to tax oil companies that have obtained "windfall profits" due to the blockade in the Strait of Hormuz and energy supply disruptions. According to UK sources, the six finance ministers hope that Ireland will include this topic on the agenda of the EU finance ministers' meeting, to be held in Dublin from September 18 to 19. In their letter, the six finance ministers noted that Europe is undergoing "one of the largest supply shocks in decades," and global consumer dissatisfaction with rising living costs continues to increase. They believe that the measures currently taken by governments are inadequate to fundamentally reduce or stabilize the prices faced by businesses and the public; thus, a joint plan is needed so that companies benefiting from the crisis will bear greater costs, thereby reducing the public burden. The finance ministers from these six countries expressed the hope that the EU will coordinate on how to deal with rising energy prices and the resulting excess profits, so that member states do not take different actions individually. At present, whether the EU will establish a relevant tax mechanism, as well as details on the specific tax targets, rates, and use of the funds, still require further discussion among member states. (CCTV)