Six EU countries urge bloc-wide windfall tax on energy firms

Six European Union countries are pressing for a bloc-wide windfall tax on oil companies as profits surge amid the Middle East conflict, according to a letter seen by AFP and reported by The Local Italy on Sunday.

The letter, sent to the European Commission, argues that energy firms are reaping extraordinary gains from the war-driven price spike and that a coordinated levy would help fund the bloc's climate transition and shield households from high bills.

The initiative comes as Europe continues to grapple with the economic fallout of the conflict, which has disrupted energy markets and pushed up fuel prices across the continent. The six countries did not name a specific rate or mechanism in the letter, according to the AFP report.