Spain has joined four other European Union countries in calling for a bloc-wide windfall tax on energy companies, as rising fuel prices linked to the Middle East conflict place growing pressure on households and businesses across Europe.
Spanish Economy Minister Carlos Cuerpo said on Saturday that Spain, alongside Germany, Italy, Portugal and Austria, had signed a joint letter to the European Commission urging action. The letter, addressed to EU Climate Commissioner Wopke Hoekstra and dated Friday, highlights what the ministers describe as ‘market distortions’ caused by the recent surge in oil and gas prices.
‘The conflict in the Middle East has caused oil prices to rise, placing a significant burden on the European economy and on European citizens,’ the letter said.
Cuerpo added in a post on X (see below) that introducing such a tax would ‘ease the burden on consumers and taxpayers’.
The ministers argue that an EU-wide measure is needed to ensure the impact of rising energy costs is shared more fairly. ‘It is important to ensure that this burden is distributed fairly,’ the letter states.
They also stressed that any new levy ‘would also send a clear message that those who profit from the consequences of the war must do their part to ease the burden on the general public’.
Energy prices have surged since US–Israeli strikes on Iran began on 28 February, triggering significant disruption to global supply. Iran has effectively blocked most tanker traffic through the Strait of Hormuz — a key chokepoint that handles around 20% of the world’s oil and gas — while damage to Gulf infrastructure has added further strain.
Although the European Union sources much of its energy from outside the Gulf, it remains heavily dependent on imports and therefore vulnerable to global price shocks. The recent spike has already fed into inflation, with the annual rate across the eurozone rising to 2.5% in March from 1.9% the previous month. ALSO READ: Spain inflation jumps to 3.3% in March as Iran war sends fuel prices higher.
European Union Energy Commissioner Dan Jorgensen warned this week that the disruption means fuel prices are unlikely to ‘go back to normal in a foreseeable future’.
The ministers pointed to a precedent set in 2022, when the EU introduced a ‘solidarity contribution’ to tax excess profits made by energy companies following Russia’s invasion of Ukraine — a move that came as inflation surged into double digits in several countries.
‘Given the current market distortions and fiscal constraints, the European Commission should swiftly develop a similar EU-wide contribution instrument grounded on a solid legal basis,’ they wrote.
The proposal does not specify how high the tax would be or which companies would be targeted, but it reflects mounting concern in Spain and across Europe that prolonged instability in global energy markets could deepen economic pressures on consumers.
Enjoying the news from Spain in English? Add us as a preferred news source in Google.
Ministers🇦🇹Markus Marterbauer 🇵🇹@JMirandSarmento 🇩🇪@larsklingbeil 🇮🇹Giancarlo Giorgetti and 🇪🇸 I are asking @EU_Commission to explore a temporary solidarity instrument for energy companies to contribute from war-driven windfall profits & ease the burden on consumers and taxpayers pic.twitter.com/3SDxaB67Tw
— Carlos Cuerpo (@carlos_cuerpo) April 4, 2026
Click here to get your business activity or services listed on our DIRECTORY.