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Market Chatter: EU Countries Seek Talks on Windfall Tax for Oil Companies Amid Iran-Related Price Surge

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Six European Union countries are urging the bloc to discuss an EU-wide windfall tax on oil companies benefiting from soaring energy prices following Iran's blockade of the Strait of Hormuz, Reuters reported on Monday.

Germany, Spain, Portugal, Italy, Poland and Austria reportedly asked Ireland, which holds the EU presidency, to put the issue on the agenda of a finance ministers' meeting in Dublin on Sept. 18-19.

The ministers said governments needed a common response to rising living costs and called for a targeted framework covering multinational oil companies' foreign profits. They also urged a swift EU investigation into refinery margins.

The European Commission did not immediately respond to requests for comment from.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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