Exxon Sues EU in Move to Block New Windfall Tax: FT

ExxonMobil is suing the EU in a push to scrap a new windfall tax against oil groups, the Financial Times reports, citing company spokesperson Casey Norton.

• Exxon says the lawsuit was filed on Wednesday by its German and Dutch subsidiaries at the European General Court in Luxembourg City, the report says
  • Lawsuit will challenge the Council of the EU’s legal authority to impose the new tax and its use of emergency powers to get member states’ approval for the levy
• The European General Court will decide whether or not to rule on Exxon’s lawsuit
  • Proceedings could continue well into ...