EU discussing tax on energy firms' war-linked profits, ministers says

Published May 13, 2026 Updated May 13, 2026 11:30am

European Union energy ministers are discussing the creation of a tax on energy companies’ windfall profits from the price hikes that followed the eruption of the Iran war, Greek Energy Minister Nikos Taragas said, Al Jazeera reports.

Spanish Energy Minister Sara Aagesen said five EU countries, including Spain, are in favour of such a tax.

EU energy ministers are set to meet on Thursday in Nicosia

Opinion

Geopolitical shift in ME

Geopolitical shift in ME

A prolonged conflict will have far-reaching implications for regional geopolitics, sharpening the divisions among Gulf countries that are directly affected by the tensions.

Editorial

Unyielding stances
Updated 13 May, 2026

Unyielding stances

Every day that passes without clarity on how and when the war will end introduces fresh intensity to the uncertainty roiling global markets and adds to the economic turmoil the world must bear because of it.
Gwadar rising?
13 May, 2026

Gwadar rising?

COULD the Middle East conflict prove to be a boon for the Gwadar port? Islamabad’s push to position Gwadar as a...
Locked in
13 May, 2026

Locked in

THE acquittal of as many as 74 PTI activists by a Peshawar court in a case pertaining to the May 2023 violence is a...
Bannu attack
Updated 12 May, 2026

Bannu attack

The security narrative and strategy of the KP government diverges considerably from the state’s position.
Cotton crisis
12 May, 2026

Cotton crisis

PAKISTAN’S cotton economy is once again facing a crisis that exposes the country’s flawed agricultural and...
Buddhist heritage
12 May, 2026

Buddhist heritage

THE revival of Buddhist chants at the ancient Dharmarajika Stupa in Taxila after nearly 1,500 years is much more ...