finance ministers of Germany, Italy, Austria, Poland and Portugal, along with Spain's economy minister

“We are experiencing one of the biggest supply shocks in decades, and all over the world there is growing discontent about the rise in the cost of living.”

finance ministers of Germany, Italy, Austria, Poland and Portugal, along with Spain's economy minister · said date not stated · reported 2026-08-21

European ministers highlighted the global cost-of-living crisis in a joint letter advocating a windfall tax.

“Oil companies are enjoying overall profitability and margins on refined products that exceed the rise in crude oil prices,”

finance ministers of Germany, Italy, Austria, Poland and Portugal, along with Spain's economy minister · said date not stated · reported 2026-08-21

European ministers called for a windfall tax on oil companies profiting during the Middle East war.