Green MEPs Demand EU-Wide Windfall Tax on Oil Profits Amid Iran Crisis

German MEP Rasmus Andresen challenged the Commission during a Strasbourg debate on Wednesday, questioning why existing models used during the Ukraine war remain sidelined. A coalition of six member states—including Germany, Italy, and Spain—has already petitioned Ireland, which holds the current EU presidency, to establish a unified framework. While some nations have implemented national levies, such as Poland’s 60 percent tax on excess fuel earnings, the lack of a cohesive EU policy leaves the market fragmented.

Opposition remains strong among several member states, as any tax change requires unanimous support from all 27 countries. Energy commissioner Dan Jørgensen dismissed the push for centralized action, citing legal constraints that place corporate taxation primarily under national jurisdiction. Despite this, supporters point to the €28bn raised by previous solidarity taxes as evidence of the mechanism's efficacy. NGO Transport and Environment estimates that eight major firms generated €7.5bn in excess profits during the first half of 2026 alone. French MEP Marie Toussaint argued that failing to tax these gains ignores the burden placed on consumers at the pump, suggesting the revenue could instead bolster the next multi-annual European budget.