EU Mulls Energy Windfall Profits Tax Amid Oil, Gas Price Spike

EU countries are considering whether to tax the profits of energy companies amid a surge of oil and gas prices due to the war in Iran.

Some Eurogroup finance ministers flagged the possibility of “using taxation of windfall profits” to respond to the increase in prices, EU economy chief Valdis Dombrovskis said after a meeting in Brussels on Friday.

Germany and Austria supported the measure, and the European Commission said it would consider its feasibility during the meeting, according to people familiar with the matter.

The Austrian and German governments ...