Europe pushes for profit caps on energy firms amid oil price crisis

Finance ministers from five EU countries are demanding urgent action to curb soaring energy profits as oil prices spike due to Middle Eastern unrest. Ministers from Spain, Germany, Italy, Portugal, and Austria have called on the European Commission to implement a windfall tax across the bloc, arguing that energy companies benefitting from the crisis must share the burden with struggling households. A letter addressed to the Commission highlights market distortions caused by global instability, p